EMEA Base Oil Price Report 16.11.21
Base oil demand is unseasonably strong in some parts of Europe, the Middle East and Africa, while trading in others is slowing as it typically does at this time of year. Activity in the main markets of Europe and the Middle East Gulf is weakening overall, but some exceptionally large base oil parcels have been witnessed moving into and out of these regions.
A recent spike in API Group I prices appears to have petered out, and values for this category have slipped almost across the board since our previous report. Group II levels have also come under more sustained pressure, falling from the heights attained during the summer and early autumn, though less sharply than the decreases for Group I.