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November 29, 2017

Volume 17 Issue 52

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Middle East Group I Prices Hang Tough

Prices for API Group I base oils from the Middle East have proved surprisingly resilient despite U.S. President Donald Trump’s recent decertification of the Iran nuclear deal. With an installed blending capacity of over 1.2 million tons, Iran dominates the region’s Group I spot market according to Izham Ahmad, markets editor at ICIS.