US base oils exports to Brazil rose to a one-year high in July, boosting supplies ahead of maintenance work at several plants in the country.
Total exports of 342,200bl (48,200t) to Brazil in July rose from an already-high 291,000bl the previous month, government data showed.
The firm volumes lifted total exports to 1.95mn bl in the first seven months of the year, up 17pc from 1.67mn bl during the same period last year.
Exports rose ahead of scheduled maintenance work at one base oils plant in Brazil in the third quarter of the year and at the country’s largest base oils unit in the fourth quarter of the year.
Brazil’s base oils surplus of supply over demand already rose strongly in June and in July ahead of the plant shutdowns, mostly because of a surge in base oil imports.
Base oils shipments to Brazil showed signs of slowing in August, even with a pick-up in flows from Asia-Pacific.
