Russia base oil exports are expected to drop 12% this year, a European trader forecasts, because of a drop in demand caused by COVID-19 lockdowns in Europe and Turkey.
Russia exported 1.12 million tons of base oil in 2019. The country’s most common viscosity index grade for export is solvent neutral 150.
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“For the first time in five years exports from Russia fell below 1 million tons, and it is the biggest drop since 2015,” Denis Varaksin, a base oil trader covering Russia and Central Asia at Berlin -based DYM Resources, told Lube Report last week.