Episode 941: Global base oils market sleepwalking into sanctions

European gasoil margins are under pressure as the 5 February sanctions on Russian oil products looms. The European export and domestic markets have been on a downtrend in early Q1 with production margins becoming a growing concern for refiners. Nevertheless lengthy market conditions continue to dominate Europe for Q1. Meanwhile, the US saw a sluggish start to 2023 though there are signs of tightening ahead. ICIS experts Eashani Chavda, Mike Connolly, Alessia Succi, Samantha Wright and Amanda Hay discuss the latest for these markets.