API Group I in Europe is in short supply. With minimal stocks for spot sales, suppliers are turning away enquiries and saying its possible the tightening will persist through October.
With lower demand cycles, producers appear to have cut back on base oil runs to suit only their own requirements and that of contracted buyers. Realizations for base oils as a product group have fallen, and contributions from Group I base oils within the Europe, the Middle East and Africa market have been woeful.
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