US base oils imports edged up to a five-month high in April, boosted by the arrival of a swathe of supplies from the Middle East.Shipments from that region showed signs of slowing in May and June, leaving the US more reliant on supplies from other sources instead such as South Korea.The slowdown in supplies from the Middle East this and last month coincided with a heavy round of Group III plant maintenance work in the region during the second quarter of the year.A reliance on additional supplies from South Korea could be problematic because of plant maintenance in that country as well.Total US base oils imports of 1.55 million barrels (218,000 tonnes) in April rose from 1.46 million barrels the previous month, government data showed.The volume was the highest since last November. It also ended a pattern since last August of a sharp fall in imports one month followed by a rebound in shipments the next.Most US imports consist of Group III base oils. The shipments account for most of the US’ supply of the premium-grade product.Imports of close to 970,000 barrels from Group III producers in the Middle East in April accounted for 67% of the US’ total Group III imports..Including shipments from South Korea, imports from the two regions accounted for some 90% of US Group III imports in April.The share was up from typical levels of around 85% of the total in 2024.The high share of imports from the Middle East and South Korea increased the impact of any slowdown in supplies from either of those markets because of factors such as longer shipment times or plant maintenance work.Plant maintenance work in both those markets during the second quarter of the year magnified the impact.It also complicated US importers’ ability to line up supplies from alternative sources and raised the prospect of tighter supplies over the coming months.Higher US Group III base oil prices reflected that dynamic.Group III base oils prices rose from late-May and extended their rebound in June to the highest in more than eight months..US’ April base oils/lube exports fall.S Korea’s April exports to US hold firm.Global premium-grade imports from Mideast rise in March
