US base oils exports to Mexico rose to a three-month high and to unusually high levels in August even amid a slowdown in the Latin American country’s lube consumption.Total base oil exports of 694,840bl (98,000t) to Mexico in August rose from 541,400bl the previous month and by 69pc from year-earlier levels, government data showed.The volume was the fifth-highest on record.The export volumes that exceeded that level were all earlier this year.The sustained rise in shipments lifted total exports to 6.0mn bl in the first eight months of the year.The volume rose by more than 50pc from 3.82mn bl during the same period last year and outpaced the 12pc rise in the US’ total base oils exports this year.Base oils exports rose even as Mexico’s lube demand fell every month since May.The surplus of exports over lube demand rose in response to a three-month high of more than 350,000bl in August. The surplus was up from an average of 82,000 bl/month in 2022..US’ August base oils exports fall.US’ Aug base oil exports to Brazil fall
