US’ April base oils exports to Africa rise

US base oils exports to Africa rose to a thirteen-month high in April amid a sustained pick-up in shipments to Nigeria.

Total exports of 274,030bl (38,600t) to Africa in April rose from 181,210bl the previous month and by 62pc from year-earlier levels.

Exports of 631,290bl to the region in the first four months of the year rose by 13pc from year-earlier levels and from less than 510,000bl in second-half 2022.

Shipments to West Africa accounted for more than 75pc of the April volume.

Exports to the region rose as US producers moved to clear an unusually large overhang of surplus supplies.

The flow of shipments extended into May and June.