The EMEA marketplace is seeing price decreases for the first time since the momentous base oil adjustments following the global economic downturn in 2008.
Prices for API Group I base oils have at least stabilised according to most producers, and in some instances have been seen to fall by some $40 to $50 per metric ton. This is particularly the case for Russian exports, where prices have dipped to around $680 to $700/t for SAE 10 and SAE 30, basis FOB sales ex Baltic ports. These price cuts have been brought about by purchaser pressure, in response to growing stocks held in tanks in ports such as Liepaja and Riga.
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