US base oils shipments to Africa almost ground to a halt in September even as the US’ total exports rose.Exports to Nigeria almost completely paused in September, after a slump in flows to less than 1,200bl (160t) the previous month.The slowdown cut total exports to Nigeria to less than 115,000bl (16,100t) in the third quarter of the year.The volume fell from more than 425,000bl during the previous three months to the lowest in a year.A steady flow of arbitrage shipments to Nigeria in first-half 2023 had helped to sustain higher US exports that countered weak demand in its domestic market.The slowdown in flows to markets like Nigeria in the third quarter put pressure on US refiners to move more supplies to other outlets instead.Exports to Latin America duly surged in September.US base oil exports to South Africa slumped to less than 1,000bl in September, from typical volumes of around 53,000 bl/month over the past year.Exports to South Africa had surged in the first eight months of the year, as the country became wholly reliant on base oils imports to cover its requirements..US Sept exports to Latin America rise.US’ Sept base oils exports rise
US base oils shipments to Africa almost ground to a halt in September even as the US’ total exports rose.Exports to Nigeria almost completely paused in September, after a slump in flows to less than 1,200bl (160t) the previous month.The slowdown cut total exports to Nigeria to less than 115,000bl (16,100t) in the third quarter of the year.The volume fell from more than 425,000bl during the previous three months to the lowest in a year.A steady flow of arbitrage shipments to Nigeria in first-half 2023 had helped to sustain higher US exports that countered weak demand in its domestic market.The slowdown in flows to markets like Nigeria in the third quarter put pressure on US refiners to move more supplies to other outlets instead.Exports to Latin America duly surged in September.US base oil exports to South Africa slumped to less than 1,000bl in September, from typical volumes of around 53,000 bl/month over the past year.Exports to South Africa had surged in the first eight months of the year, as the country became wholly reliant on base oils imports to cover its requirements..US Sept exports to Latin America rise.US’ Sept base oils exports rise
