US’ March exports to Brazil stay high

US base oils exports to Brazil stayed higher than usual in March, when the Latin American country’s domestic base oils output fell to a nine-month low.

US exports of 295,960bl (41,680t) to Brazil in March rose from 239,690bl the previous month, government data showed.

The volume rose by 87pc from year-earlier levels and boosted total shipments to the country to 847,290bl in the first quarter of the year.

Exports rose from 637,280bl during the same three-month period last year, when Brazil was clearing a supply surplus.

Its tighter supply this year provided the US market with a valuable outlet to clear some of its own surplus volumes.