18 July 2012 03:19 [Source: ICIS news]
SINGAPORE (ICIS)--Oil major ExxonMobil will cut prices of its Group I and II base oil term supply to customers in ?xml:namespace>
The company’s Group I SN150, SN500 and brightstock prices will be reduced by $40/tonne to $1,200/tonne ex-tank
Group II 150N and 500N prices will also be reduced by $40/tonne.
“Brightstock prices will be further reduced by an additional $20/tonne in
The current price reduction is prompted by prevailing weak demand and thin buying interest brought about by global economic woes which hampered growth in the downstream lubricants sectors, a Singapore-based trader said.
The last time the company cut its term prices was in June.
Exxon Mobil declined to comment when asked about the price cuts.
($1 = €0.81)
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