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White Oil Price Trend and Forecast

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Market Overview

For the Quarter Ending June 2022

North America

In the second quarter of 2022, the White Oil market in the North American region was weakened amidst inadequate demand from the domestic and overseas markets. The retaliatory sanctions on the Russian energy supplies onslaught of additional Crude Oil supply from the US strategic petroleum reserves showcased no deficit in supply in the US domestic market. Furthermore, the region observed an oversupply scenario against the lul demand from the downstream polymers sector. The COVID situation in China significantly impacts the upstream white oil. Whereas the inquiries from the food and medical sector have remained average.

Asia Pacific

During the second quarter of 2022, the White Oil market in the Asia Pacific region remained bearish. The demand remained sluggish amidst the resurgence of COVID in China, which significantly impacted the Polymer industry. Despite the higher cost margins and rising energy prices, the downtrend in the Polymer market has narrowed the spread for White Oils in the APAC region. Furthermore, according to the customs data, the Chinese blenders supplied around 380,000 MT of heavy bunker fuel in total during the last month of the second quarter. As for light bunker fuel, the domestic marine oil supplies stood at around 170,000 MT in the month, rising by 20,000 MT or 13.33% on a month-on-month basis in June.

Europe

As of the second quarter, the White Oil market in the European region was staggered with different trends. The eastern part observed a bullish sentiment in the market dynamics amidst the ongoing conflict and imposition of western sanctions on Russia. At the same time, the Northwest European region market observed a persistent gyration as the US market participants were restocking the inventories in the region ahead of the hurricane season to keep the supply chain smooth. In addition, the inquiries for White Oil were inadequate to support the price chart as the European players were seeking finished goods due to the gyration in the domestic market.

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ChemAnalyst addresses the key problematic areas and risks associated with chemical and petrochemical business globally and enables the decision-maker to make smart choices. It identifies and analyses factors such as geopolitical risks, environmental risks, raw material availability, supply chain functionality, disruption in technology and so on. It targets market volatility and ensures clients navigate through challenges and pitfalls in an efficient and agile manner. Timeliness and accuracy of data has been the core competency of Chemanalyst, benefitting domestic as well as global industry in tuning in to the real-time data points to execute multi-billion-dollar projects globally.

Services

Market Analysis

Company-wise installed capacity, production volume and plant operating efficiency is captured directly from manufacturers. Import and Export volume is captured from government sources and demand for White Oil is calculated considering the production, import, export and inventory-levels on the country and regional level markets.

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Pricing Analysis

The product price is correlated with the price trend of crude oil, demand-supply gap, fluctuations in the feedstock and with the market movement of the downstream sectors.

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Company Profile

Basic details and information on financial performance of leading global players in the White Oil market is presented in a visually captivating manner. Expansion plans and the company’s strategy is also captured to understand the vision and mission of the company to help understand the areas where companies need to focus more.

News & Deals

Daily updates on industry-specific and product-specific news, exclusive primary-based news capturing plant shutdowns/outages/closures, capacity expansions, operating rates, insights on demand-supply situation, awarding of technology licenses, new product launch and deals specifying mergers and acquisitions, strategic investments and disinvestments, to help players capitalize on market opportunity.

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Methodology

ChemAnalyst gathers information through primary research surveys conducted with various White Oil manufacturers, spread across the domestic and international market, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of company’s annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analyzed, evaluated and presented in chronological order to depict a meaningful and clear picture of the concerned market.

Our dedicated team of industry experts comprehensively monitors and analyzes various aspects of the Global White Oil market. The team analyzes various industrial segments, strategic viewpoints and provides an analysis of the industry’s performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics and strike out a balance amidst market volatility.

Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behavior of consumers across the globe.

Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global White Oil market.

Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on monthly and yearly basis.

Finally, region-specific markets for White Oil are analyzed and region-wise demand pattern is tracked.

About

White Oils are heavily refined oils that showcase the physical properties of being extremely pure, stable, colourless, odourless, non-toxic, and chemically inert. They were white not because of their physical appearance being white at all, but being crystal clear. The production of White Oils produced varies depending upon the used processes and variety of fossil feedstocks. The conventional methodology to process White Oils consists of base stocks for the older acid treatment to Vacuum Gas Oils (VGO). The widely used process currently uses a two-stage hydrotreating method. All the processes mentioned above produce colourless, odourless, tasteless oils. The major players of the White Oils are Total Energies, British Petroleum, Exxon Mobile, Sinopec, Petro Canada, etc. It is consumed in many applications such as Adhesives, Agriculture, Food, Pharmaceutical, Personal Care, Textile, Polymers etc.

Product Specific Details

CAS No:	8042-47-5
HS Code:	27101990
Grade:	LX-10, LX-15, LX-20, LX-30
Contract Size:	50 MT
Packaging Type:	Drum, and Tanks

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White Oil Price Trend and Forecast

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