24 February 2011 14:54 [Source: ICIS news]
LONDON (ICIS)--The ?xml:namespace>
“Inventories are already challenged because of firm demand and also a spate of production issues during the first quarter,” a
“If demand spikes beyond forecasts during the busy season, it would make for an uncomfortable situation.”
Demand for base oils often increases in mid-to-late March as buyers prepare finished goods ahead of the
Supply conditions in the
A tight market for Group I base oils in Europe at the end of 2010 looks set to continue into early 2011, partly due to strong exports to markets such as Asia and the
Base oil demand in 2009 was “the lowest in more than 25 years, maybe even 40”, said Stephen Ames, managing director of SBA Consulting.
“2010 demand should regain two-thirds of the 2008/2009 loss mainly due to large inventory restocking and robust demand from
The meeting began on Thursday and runs through Friday.
($1 = €0.73)
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