Europe enjoyed a reasonably active week, and the United States is not a bad place for a ship to be seeking employment either. Asian markets, however, are still not fully functioning after the lunar holidays.-by Adrian Brown

Half of the worlds base oil production units are within hot spots that for various reasons are susceptible to a level of conflict or instability that could cause supply disruptions with global implications similar to those in 2017, an expert warned at an industry event here last month.

National Refinery Ltd. plans to boost the production capacity of its base oil plant in Pakistan and has contracted a Chinese company to do the work.

The global lubricants industry is passing through a phase of little to no growth, but India remains a bright spot due to its steadily growing demand that offers opportunities despite the markets complexities, industry insiders said at a conference in Mumbai.