US’ April base oils imports rise

US base oils imports rose to a seven-month high in April on the back of a rebound in shipments of Group III base oils.

Total imports of 1.54mn bl (216,340t) in April rose from 1.29mn bl the previous month and by 15pc from year-earlier levels, government data showed.

Shipments from countries with Group III base oils production accounted for more than 93pc of the total volume.

The share rose from around 81pc in March to the highest in more than two years.

Group III base oils imports rose even as US prices faced more downward pressure in response to weaker supply-demand fundamentals.

Imports of premium grades from the Mideast Gulf rose to 834,920bl in April. The volume doubled from the previous month to the highest since last September.