US base oils exports to Argentina rose to an eight-month high in May, balancing out a slowdown in the Latin American country’s domestic production and imports from other regions.US exports of 69,390bl (9,770t) to Argentina in May rose from 22,800bl the previous month, government data showed.The rise in shipments lifted total US exports to Argentina to 200,860bl in the first five months of the year.The volume rose almost fivefold from less than 43,000bl during the same period last year.The contrasting volumes reflected an open arbitrage from the US to Latin America this year, and a closed arbitrage last year.The arbitrage to move supplies to Argentina from other markets like Asia and Europe was also much harder to work so far this year.Most of the May-loading shipments from the US loaded from the district of Mobile in Alabama. The shipments were the first from that district this year..US’ May base oils exports rise
US base oils exports to Argentina rose to an eight-month high in May, balancing out a slowdown in the Latin American country’s domestic production and imports from other regions.US exports of 69,390bl (9,770t) to Argentina in May rose from 22,800bl the previous month, government data showed.The rise in shipments lifted total US exports to Argentina to 200,860bl in the first five months of the year.The volume rose almost fivefold from less than 43,000bl during the same period last year.The contrasting volumes reflected an open arbitrage from the US to Latin America this year, and a closed arbitrage last year.The arbitrage to move supplies to Argentina from other markets like Asia and Europe was also much harder to work so far this year.Most of the May-loading shipments from the US loaded from the district of Mobile in Alabama. The shipments were the first from that district this year..US’ May base oils exports rise
