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2024 APAC Base Oils Midyear Outlook

In the latter half of 2024, Asia’s base oils market is poised for moderate shifts. Group II supply is set to increase, despite ongoing maintenance constraints, while Group III availability is expected to expand. Demand in China is likely to recover, with a notable decline in imports. Read on for more insights on how the rest of the year might pan out.

  • Asia Group II base oils supply to increase moderately in H2 2024, demand to improve from September
  • China Q3 base oil demand may recover; Group II imports to fall

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