Dutch lube demand reaches record high in 2022

Base oil production and imports in the Netherlands increased last year to meet surging demand for finished lubricants, just-published government data show.

Sales rose to 952,000t in 2022 from 356,000t a year earlier, more than double the five-year average. This was led by strong demand in the first quarter at 390,000t, an increase from 55,000t from the prior three-month period and from 61,000t a year earlier.

Buyers were probably securing finished lubricant supply in response to anticipated logistical disruptions caused by the war in Ukraine. Sales in February and March were the highest for any months since Argus records began in 2014, at 127,000t and 141,000t respectively.

Surging sales were met with increased imports of base oils as a feedstock, which rose by 14pc on the year to 1.5mn t. Although base oil production in the Netherlands slipped on the year, by 23pc, output in 2022 was 40pc above the five-year average.

By Gabriella Twining