Remarkably, the base oil supply scene tightened further the past two weeks as availability in all product groups diminished. API Group I supplies remain exceptionally elusive as maintenance turnarounds take their toll and producers advertise few spot availabilities.
Group II is also becoming scarce, some buyers being unable to procure quantities necessary to produce contracted volumes of finished lubricants. Some large end-users are in turn struggling to maintain their own operations and output of machinery and goods. Group III supplies are remote, with sellers offering to supply only regular customers – in many cases with lags of up to three months.