Volume 2 Issue 46
Certain routes in the United States, Asia and Middle East are showing tangible signs of increased demand, yet there are other routes in those regions that are decidedly flat. Europe has yet to see any real change.-by Adrian Brown
Iraq has emerged as Irans main export market for base oils as the weight of United States sanctions shut down the Islamic Republics traditional trade routes. Base oils are being trucked overland to neighboring Iraq, with unconfirmed reports saying they are re-exported as Iraqi-origin base stocks.
The African Continental Free Trade Agreement that went into force in May benefits Africas lubricants blenders by reducing tariffs and other barriers to doing business with other countries within the continent, industry insiders said Nov. 6 at a conference in Cape Town, South Africa.
Kline & Co. consultants predicts that passenger car motor oil demand in most of the largest auto markets will decrease at a compound annual rate of 0.1 percent through 2040 due to the impacts of electric vehicles, without which demand would rise at 0.9 percent annually.