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The global automotive industry is facing a severe shortage of high-quality base oils due to supply disruptions caused by the war in the Middle East, particularly in Iran. This has led to oil prices rising to around $4,000 per ton in Europe and the United States, with limited alternative suppliers and the risk of shipping disruptions or refinery closures. Companies like Volkswagen and Toyota are re-evaluating their sourcing strategies and seeking alternative formulations to ensure maintenance operations continue smoothly, despite the need to verify that these alternatives meet specifications and quality standards. The crisis is expected to persist, impacting maintenance costs and resulting in higher prices for consumers.
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