US base oils exports rose in May amid signs of improving availability of surplus volumes.A sharp dip in exports to markets like West Africa suggested that the size of any such surplus remained manageable.Total base oils and lube exports came to 3.75 million barrels (528,000 tonnes) in May, government data showed..The volume rose by 10% and for the first time in three months from year-earlier levels. It rose from a seven-month low of 3.42 million barrels in April.The drop in exports in April coincided with a heavy round of overlapping plant-maintenance work that cut US base oils output to a four-year low.The lower output cut availability of surplus volumes, with refiners instead prioritizing term buyers in key overseas markets like Europe and South America.That dynamic showed signs of extending into May, with firm export volumes continuing to move to those markets.Base oils and lube exports to West Africa by contrast extended their fall to the lowest this year.The region is an increasingly major outlet for surplus US supplies.Mexico and India provide a similar role as outlets for surplus US volumes.US shipments to Mexico rebounded in May after dipping to an eighteen-month low in April.US exports to India also recovered in May, with volumes well above typical levels.The pick-up in shipments to those markets pointed to a rise in surplus supplies.The dip in exports to West Africa suggested that the surplus remained limited.A rise in surplus supplies coincided with the completion in May of some of the plant-maintenance work taking place during the second quarter.At the same time, the swift removal of those volumes curbed the size and speed of any significant stock-build.It instead raised the prospect of keeping domestic supply fundamentals in the US relatively tight through the second quarter of the year..US’ April base oils supply lags demand .US’ April base oils/lube exports fall
