US base oils exports to Europe recovered in March to more typical levels but lagged the size of the surge in total US shipments that month.Exports of 483,340bl (68,080t) to Europe in March rebounded from less than 178,000bl the previous month, government data showed.The fall in shipments from year-earlier levels contrasted with a rise in total US base oil exports to a record-high in March.Exports of 1.26mn bl to Europe in the first quarter rose from the previous three months but were still 4pc lower than year-earlier levels of 1.31mn bl.The more muted flows to Europe curbed any build-up of supplies in that market as other regions absorbed a swathe of surplus US volumes instead..US’ March base oils exports rise
