Month: February 2021

EMEA Base Oil Price Report 23.02.21

Weather-related disruptions in Texas have caused a perfect storm for the base oil industry as new problems at multiple refineries exacerbated existing shortage caused by the impacts of COVID-19.

Looming maintenance shutdowns in Europe and East Asia could make the situation even worse, potentially destabilizing and derailing any post-pandemic recovery.

Basically there is currently not enough base oil to cover even the reduced level of base oil demand caused by the pandemic, and in the few locations where there is availability of base oils, they are either in the wrong place or are in insufficient quantities to cover requirements. read more

EMEA Base Oil Price Report: 09/02/2021

The seasonal rise in demand that would normally take shape at this time of year appears as if it may pass by base oil markets this year due to the ongoing crisis caused by the COVID-19 pandemic.

Base oil producers, resellers and blenders would normally have been anticipating a buoyant upturn in activity with lubricant operations gearing up for the spring and summer seasons when demand typically revives from winter doldrums in the northern hemisphere. Even in southern climes in Africa business normally ramps up now following the hot summer and rainy seasons. read more