U.S. base oil activity is fairly sluggish so far this month, although a few players see pockets of healthy demand. Following a full round of API Group I price decreases in recent weeks, no other posted price adjustments have emerged.
Despite volatility caused by the European debt crisis during the past year, some sources said that global base oil demand managed to remain buoyant. The unstable financial situation has most certainly impacted a multitude of businesses, but the base oil industry appeared to maintain a steady pace throughout. Only recently has a slowdown across the board for both paraffinics and naphthenics been detected, suppliers lament.