US’ base oils imports were steady in November even as shipments of Group III supplies rose for the first time in seven months.Total imports of 1.04mn bl (147,000t) in November were almost the same as the previous month and down 5pc from year-earlier levels, government data showed.Imports of Group III base oils came to 931,000bl in November, up 14pc from year-earlier levels.Even with the rise in shipments, the US’ total Group III base oils imports of 11.88mn bl in the first eleven months of the year were down 6pc from year-earlier levels.The drop in supplies mostly reflected a slump in shipments from Asia-Pacific. The slowdown extended into November.US imports from Group III producers in the Mideast Gulf by contrast surged in November and rose in the first eleven months of the year even as total shipment volumes fell.The increase in November mostly reflected a surge in supplies from the UAE to a ten-month high of 244,000bl.The US attracted more supplies from the Mideast Gulf, even in the face of weaker demand, amid increasingly firm Group III prices relative to Europe in the second half of the year, ICIS data showed.The trend put pressure on Asia-Pacific refiners to find alternative outlets for their supplies.More muted demand and rising Group III supply in China added to the pressure and increased the importance of maintaining market share in the key outlets of the US and Europe.There were signs of a strong pick-up in shipments from South Korea to the US during the final few weeks of last year..US’ Nov base oils exports rise
