The EMEA base oil market is in limbo rather than stable, with the present stasis being forced on the market rather than the market reacting to events. Due to holidays in Europe, the end of Ramadan and the ensuing period of Eid in the Middle East, Turkey, Nigeria and other Islamic states, demand has been virtually stripped from the marketplace.
Buyers appear to have everything necessary to continue blending, at least until normal work resumes after August. For their part, suppliers say they are in no rush to offer prices which may not cover costs, and which most believe will rise when players return in the coming weeks.
Free Lube Reports
Get alerts when new Sustainability Blog articles are available.
Base Oil Pricing Report Base Stocks Market Topics Other