The US’ surplus of base oils exports over imports stayed high in June even as it fell from a more-than-eight-year high the previous month.The surplus of exports over imports fell to 754,800bl (106,310t) in June, down from more than 1.50mn bl the previous month, government data showed.The June volume was the third-highest in fifteen months. It boosted the total surplus of exports over imports to 4.76mn bl in first-half 2023, up from year-earlier levels of 3.84mn bl.The rising surplus mostly reflected this year’s surge in US base oils exports, especially since March.A drop in US base oils imports to a two-year low in June provided further support.Rising net base oils exports speeded up the removal of surplus supplies from the US market. .US’ June base oils exports fall
The US’ surplus of base oils exports over imports stayed high in June even as it fell from a more-than-eight-year high the previous month.The surplus of exports over imports fell to 754,800bl (106,310t) in June, down from more than 1.50mn bl the previous month, government data showed.The June volume was the third-highest in fifteen months. It boosted the total surplus of exports over imports to 4.76mn bl in first-half 2023, up from year-earlier levels of 3.84mn bl.The rising surplus mostly reflected this year’s surge in US base oils exports, especially since March.A drop in US base oils imports to a two-year low in June provided further support.Rising net base oils exports speeded up the removal of surplus supplies from the US market. .US’ June base oils exports fall
