Continued growth in Recycle Base Oil demand and Supply on the eve of 2021

This article was prepared by Tina Taghavi, the sales manager of Infinity Galaxy

the new wave of coronavirus in the UK led to a drop in Brent oil prices on global markets but the price trend in the market continues to grow.

on December 15, Indian refineries considered fuel prices constant and raising the price of bitumen to about $ 44. However, the market demand trend for bitumen and oil products, especially in the middle east and India is still increasing.

despite the decrease in the oil price, due to the coronavirus pandemic and reducing transportation, refineries still facing a shortage of raw materials to produce recycled base oil and its high demand in the market.

There is some news that HCPL will start production from the first week of January to stabilize the price.

However, freight charges have increased in the last few days and there is a possibility of GRI increase in January, which is another important factor affecting the price growth.

Current market news indicates that recycled base oil SN150 prices have risen above $610, which confirm our latest weekly report.

Our team strives to provide the most realistic and up-to-date analysis by analyzing market events, examining various factors, including political, economic, and the general situation of supply and demand.