Volume 1 Issue 48
The gradual tightening of space out of the United States continued last week, and Europe looks a little busier too. Asia, however, is slower in parts, and the customary year-end build-up is missing.-by Adrian Brown
The Middle East has become a prominent producer and net exporter of API Group II and Group III base oil, using its glut of over 2 million tons of material to cater to demand in India, North America and Western Europe, an industry insider said at a conference in Moscow.
When most multinationals began moving out of Kenya, it opened the door to an influx of new lubricant market players, a Kenyan lubricants distributor official told Lube Report on the sidelines of a conference in Cape Town, South Africa last month.
Although internal combustion engines are expected to remain dominant in Russia - where a preference for larger cars and lack of government subsidies hinder the growth of electric vehicles and hybrids - the countrys lubricant manufacturers seek opportunities abroad as they assess the shift towards EVs and hybrids elsewhere, industry insiders said.