World Base Oils Outlook 2024

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Global base oils markets grapple with ample supply and low demand for 2024

  • Forecasts for base oil and lubricant demand remain subdued for 2024 while global supply remains largely undisturbed.
  • Shifting trade flows have been a key topic in the last year, and with the current crisis in the Red Sea, global trade remains under pressure.

Read the latest insights from ICIS experts on the outlook for base oils in the US, Europe and Asia.

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