US base oils exports to Europe stayed in a narrow range in February for a fourth month even as shipments surged to other markets.The contrast pointed to moves to maintain steady supplies to a market where Group II light-grade base oils prices climbed to an increasingly steep premium to US domestic prices in the first quarter.US base oils exports of 380,000 barrels (53,000 tonnes) to Europe in February fell from 410,000 barrels the previous month, government data showed.The volume was still up from close to 350,000 barrels in December and was close to typical levels of around 405,000 barrels/month in 2024.Most of the supplies consisted of Group II base oils..The steady flows coincided with and added to higher Group II base oils output in Europe at the start of this year compared with year-earlier levels.But the shipment of additional surplus volumes from the US to other outlets like India and West Africa early this year capped the size of the pick-up in Europe’s supply.A drop in Europe’s Group II base oils prices in recent weeks reflected the region’s more plentiful supply even without a sharp rise in flows from the US.Even so, prices remained relatively firm versus Europe Group I and especially Group III prices.The steady flow of shipments to Europe early this year preceded a round of refinery maintenance in the US.The maintenance included work on a unit that is a key supplier of base oils for the European market.A surge in shipments from that unit to other outlets like South Africa in February pointed to moves to build stocks ahead of the maintenance work.Shipments from the unit to Europe by contrast fell in February to a fourteen-month low.A surge in shipments from the district of San Francisco to Europe in February countered the slowdown and raised the prospect of steady flows to the region even during the plant maintenance work..US’ February base oils exports rise.Netherlands' Jan base oils output holds firm.US’ February base oils imports fall
US base oils exports to Europe stayed in a narrow range in February for a fourth month even as shipments surged to other markets.The contrast pointed to moves to maintain steady supplies to a market where Group II light-grade base oils prices climbed to an increasingly steep premium to US domestic prices in the first quarter.US base oils exports of 380,000 barrels (53,000 tonnes) to Europe in February fell from 410,000 barrels the previous month, government data showed.The volume was still up from close to 350,000 barrels in December and was close to typical levels of around 405,000 barrels/month in 2024.Most of the supplies consisted of Group II base oils..The steady flows coincided with and added to higher Group II base oils output in Europe at the start of this year compared with year-earlier levels.But the shipment of additional surplus volumes from the US to other outlets like India and West Africa early this year capped the size of the pick-up in Europe’s supply.A drop in Europe’s Group II base oils prices in recent weeks reflected the region’s more plentiful supply even without a sharp rise in flows from the US.Even so, prices remained relatively firm versus Europe Group I and especially Group III prices.The steady flow of shipments to Europe early this year preceded a round of refinery maintenance in the US.The maintenance included work on a unit that is a key supplier of base oils for the European market.A surge in shipments from that unit to other outlets like South Africa in February pointed to moves to build stocks ahead of the maintenance work.Shipments from the unit to Europe by contrast fell in February to a fourteen-month low.A surge in shipments from the district of San Francisco to Europe in February countered the slowdown and raised the prospect of steady flows to the region even during the plant maintenance work..US’ February base oils exports rise.Netherlands' Jan base oils output holds firm.US’ February base oils imports fall
