Volume 1 Issue 43
The U.S. markets show no real improvement, but they have not dropped further. Europe has been slow, with many people away attending a trade event. Asia is starting to move in the right direction, but it needs more impetus to push it to the next level.-by Adrian Brown
European demand for lubricants may be flat, but the regions demand for synthetic base stocks is forecast to rise at roughly 4 percent per year through 2022, thanks to increasing demand for higher quality finished lubes, an industry consultant said last week.
Irans refined oil products are scheduled to become subject to new sanctions Nov. 4 when the United States imposes additional measures against the Islamic Republics oil sector. Base oil exports face increased scrutiny because refiners and traders could attempt to make some shipments undetectable to skirt the crippling impact of wider sanctions.
Russia generates approximately 1.2 million metric tons of waste lubricants annually, but only a fraction is recycled, so a Russian association is encouraging more of the practice.