Netherlands’ March base oil, lube output rises

The Netherlands' base oil and lube output rose in March to its highest level in at least eight years, extending a sharp rebound since the start of the year.

Total output of 100,000t in March rose from 90,000t the previous month and from 98,000t in January, government data showed. Each of these monthly volumes were the highest since at least 2013.

The surge in supplies contrasted with lower than usual output during the third and fourth quarters of last year when production almost halted in September.

The rise in output pushed up production to 288,000t in this year's first quarter. The volume was up by 75pc from 165,000t during last year's final quarter and also the highest since at least 2013.

The rise in output coincided with steadier domestic lube consumption in March at more typical levels of 21,000t. The country's consumption had increased to more than 60,000 t/month in five of the six months to December. Most of the consumption during this period had been categorised under refineries. There is usually no consumption from this category.

With domestic consumption at lower, more typical levels, base oil and lube exports from the Netherlands rose in March to their highest level in more than two years.

By Iain Pocock