Base oil stays tight even as Hormuz deal reaches signing

Global supply of premium base oils is expected to stay tight for months, even as the United States and Iran sign an interim deal to end the war and reopen the Strait of Hormuz, as depleted inventories and disrupted Group III base stock production continue to strain the lubricants value chain. ExxonMobil, one of the largest base oil suppliers, said it is adjusting its…

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