The base oil market continued its weak wait-and-see pattern this week, and the market turned downward. The market trading sentiment has weakened, and the downstream procurement enthusiasm is not high, and the market shipments are average.
Overhaul manufacturers also began to produce heavy volumes, and the market supply was sufficient. Due to poor shipments, some refinery stocks are heating up, and downward pressure on high prices has increased. Within a month, the base oil market changed from a seller's market to a buyer's market.
Despite higher crude oil prices, market demand is unlikely to be significantly boosted. The bearish atmosphere in the downstream remains unabated, and procurement is still on demand.
Huizhou organic heat carrier (L-QB280) is reduced by 100 yuan / ton, and Huizhou General Transformer Oil (-20 ° C) is reduced by 400 yuan / ton.
It is expected that the base oil market will still be adjusted downwards.