The base oil industry is fast-evolving. Industry regulations, policy changes and the Covid-19 pandemic present new threats and opportunities.
Global base oils production capacity has surged across the globe over the past year following the start-up of a wave of new plants. But with the introduction of the IMO sulphur cap in January 2020, and the impact of Covid-19 pandemic, there could be strains on availability as some refiners place more emphasis on alternative fuels production, putting upward pressure on base oil prices. Staying on top of this market is more important than ever.