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
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
