US base oils imports fell in August from the previous month, contrasting with a rise in the country’s exports to a five-month high.Total imports of 1.08 million barrels (153,000 tonnes) in August fell from 1.28 million barrels the previous month, government data showed.Imports still rose by 12% in August and for the second time in three months from year-earlier levels.The slowdown in imports from July coincided with some base oils production issues in the US that likely curbed output volumes in August.A dip in imports and steady or lower base oils output raised the prospect of a drop in supply in August.The trend contrasted with a jump in US base oils and lube exports in August that likely cushioned the impact of a seasonal slowdown in domestic consumption that month.The combination of lower supply and steady-to-higher demand raised the likelihood of trimming the country’s stocks and curbing the size of an overhang of surplus volumes at the end of the third quarter of the year.US imports from countries with Group III base oils units came to 924,000 barrels in August.The volume was down from more than 1.24 million barrels in July but still rose for a third month from year-earlier levels.Imports fell from July as shipments from the Middle East extended their sharp slide to an eight-month low.Imports from the region fell to less than 375,000 barrels in August, down from 485,000 barrels the previous month and from 944,000 barrels in June.The drop in shipments from the Middle East contrasted with a sustained rebound in supplies from South Korea.Shipments of 370,000 barrels from the northeast Asian country also slipped in August from a-more-than-four-year-high the previous month. They were still the second highest in five months and up more than 50% from year-earlier levels.Rebounding imports from South Korea and the slide in shipments from the Middle East coincided with sustained weakness of US Group III base oils prices relative to other grades and other regions.The contrasting trends suggested that supplies from the Middle East were more sensitive than shipments from South Korea to the lower base oils prices..US’ August base oils exports rise.S Korea’s Aug base oils exports rise to US, Europe.Global premium-grade imports from Middle East fall in July
