US base oils exports to Europe slumped in October, extending a sustained slowdown in shipments to the region throughout the year.Exports of 196,500bl (27,800t) to Europe in October fell from an already-low 343,400bl the previous month and by 64pc from year-earlier levels, government data showed.The fall in shipments added to the 11pc slide in total exports to 4.14mn bl in the first ten months of the year compared with year-earlier levels.The slowdown followed a 6pc fall in US shipments to Europe in 2022 from the previous year.The US is Europe’s largest overseas source of Group II base oils.The sustained fall in exports to Europe put pressure on US refiners to line up alternative outlets instead.It also increased Europe’s reliance on Group II base oils supplies from within the region.The drop in US base oils exports to Europe in October mostly reflected a pause in shipments from the district of San Francisco for a second month and a slowdown in shipments from Mobile..US’ October base oils exports fall
US base oils exports to Europe slumped in October, extending a sustained slowdown in shipments to the region throughout the year.Exports of 196,500bl (27,800t) to Europe in October fell from an already-low 343,400bl the previous month and by 64pc from year-earlier levels, government data showed.The fall in shipments added to the 11pc slide in total exports to 4.14mn bl in the first ten months of the year compared with year-earlier levels.The slowdown followed a 6pc fall in US shipments to Europe in 2022 from the previous year.The US is Europe’s largest overseas source of Group II base oils.The sustained fall in exports to Europe put pressure on US refiners to line up alternative outlets instead.It also increased Europe’s reliance on Group II base oils supplies from within the region.The drop in US base oils exports to Europe in October mostly reflected a pause in shipments from the district of San Francisco for a second month and a slowdown in shipments from Mobile..US’ October base oils exports fall
