US base oils exports to Mexico stayed unusually high in September even as they fell from the previous month.Base oils exports of 645,000bl (91,000t) in September fell from 695,000bl the previous month, government data showed.They still more than doubled from year-earlier levels.The rise in exports for a ninth month lifted total shipments to 6.65mn bl in the first nine months of the year.The volume was up more than 60pc from less than 4.20mn bl during the same period last year.The surge in base oils exports contrasted with a slowdown in Mexico’s finished lube demand in recent months.The diverging supply-demand trends left an increasingly large supply surplus.A portion of the surplus likely ended up in the fuel-extender market.Future shipments bound for the fuel-extender market are likely to have more difficulty moving to Mexico. The country tightened its rules on oil-product imports in late October in order to stem such flows..US’ Sept base oils exports rise.Global base oils - week of Nov 6: Price outlook - arbitrage
