US base oils exports to Europe rebounded to a one-year high in July amid a resumption of more typical flows following scheduled plant maintenance work.
Exports of more than 700,000bl (99,200t) to Europe in July rose from less than 192,000bl the previous month, government data showed.
The June volume was the second-lowest this year. The July volume was the fourth-highest on record.
Base oil exports to Europe still fell in July for a fifth month from year-earlier levels, cutting shipments to 3.21mn bl in the first seven months of the year.
The volume fell by 14pc from 3.73mn bl during the same period last year.
Shipments to Europe fell even as the US' total base oils exports rose 10pc in the first seven months of the year to a record high.
The drop in exports increased Europe’s reliance on regional supplies to cover more of its Group II base oils requirements.
