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Base oils and lubricants industry continues to be plagued by oversupply

Last week, Shamrock attended the ICIS 15th Middle Eastern Base Oils & Lubricants Conference in Dubai. The Conference, “Supporting market transformation and commercial development in the Middle East, on a global platform”, focused on the dynamic transformations and commercial development of the Middle East market, including the drive for higher quality and innovation.

As an event we have supported consistently over the years, this Conference provided a great opportunity for networking and to meet with existing customers and suppliers.

Globally there is a marked shift in the base oils and lubricants industry, as rising supplies are being met with slower than expected demand and higher feedstock prices. Particularly in the Middle East, the trend of oversupply continues to dominate discussions. The market is experiencing a dynamism not seen before with new production capacities and more spot volumes on offer.

It has become more important than ever for industry players to have an intermediary that is involved in the whole supply chain. As your global partner in the lubricants industry, Shamrock provides global distribution to 40+ customers and sourcing from 20+ refineries. This, together with the right services needed to tackle the industry’s challenges.

As ever, the Shamrock team will continue to monitor the development in the market and stay up-to-date with current and forecasted market trends. We will provide our partners with detailed local market knowledge and global expertise whenever required.

For more information on how we can support your business, get in touch with us at + 357 25 256 115 or trade@myshamrockgroup.com.

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