US base oils exports exceeded imports by a record amount in May, raising the prospect of a drop in the country’s surplus supplies.Base oils exports rose to a record-high 2.66mn bl (375,000t) in May.The country’s base oils imports fell to a six-month low of 1.13mn bl in May.The 1.53mn bl export surplus rose from less than 560,000bl the previous month to a record high.The combined surplus of 4.0mn bl in the first five months of the year contrasted with a 60,000bl surplus of imports over exports during second-half 2022.US base oils prices faced sustained pressure so far this year because supply consistently outpaced demand..US’ May base oils imports fall.Base Oil News stories and analysis also available on ICIS platform
