EMEA Base Oil Price Report 03.05.2022
A number of shortages are starting to emerge from war in Ukraine. Agriculture seems hardest hit, with supplies of vegetable oils, cereals and some fruits all in danger of shortages through the summer months and into the winter. Fuel is in short supply, as are all petroleum products, including base oils.
The plight of the lubricant trade in Ukraine is plain for all to see as blenders still operating face constraints on supplies of base stocks and additives. There are also reports of difficulties for crude oil deliveries in the Black Sea region, a large part of which has come under Russian control. Further shortages and lack of basic materials are forecast to start happening over the next few months.