Home April 7, 2020

April 7, 2020

Volume 3 Issue 14

Recession Catches Middle East Refiners

Global base oil markets are under intense pressure as the threat of a worldwide recession sinks demand for lubricants amid few signs of an early respite in the coronavirus pandemic. Middle East base oil refiners’ push for a bigger piece of the API Group II and III base oil market now leaves them exposed in a global base oil supply glut, along with a drop in base oil demand and prices due to the pandemic’s economic impacts.

Russian Passenger Car Lube Demand Grows

Russian passenger car motor oil demand reached 267,000 metric tons in 2019, up almost 2 percent compared to the previous year, according to a Moscow-based consultancy.

Spanish Group Promises Lube Supply

The Spanish Association of Lubricant Companies assured the public that its member companies will continue supplying lubes for essential activities despite countermeasures taken by Spain’s government to combat the Covid-19 epidemic.

Briefly Noted

Polish lube maker Orlen Oil on March 31 announced it would – through the launch of a second liquid tank – increase production of hand sanitizers at its lubricant blending plant in Jedlicze by 20 percent to approximately 1.2 million liters per week in April. The company in early March said it would produce the hand sanitizers as part of a government initiative to fight the spread of the coronavirus in Poland.
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