US base oils exports to South America stayed lower than usual in January for a second month amid a further dip in shipments to Brazil and Argentina.Lower exports contrasted a sustained rise in Brazil’s lube consumption and a recent recovery in Argentina’s lube demand.The dynamic increased the need for additional base oils supplies from overseas markets to avoid a shortfall.The need for more supplies was likely to increase ahead of a seasonal rise in demand in those markets later in the first quarter of the year.The drop in shipments from the US instead raised the prospect of leaving the supply-demand balance increasingly tight in those markets.US base oils exports of close to 370,000 barrels (52,000 tonnes) in January rose from a thirty-five-month low of less than 260,000 barrels in December, government data showed..The January volume was still unusually low and down from typical levels of close to 500,000 barrels/month in 2024.Exports rose from December on the back of a pick-up in shipments to Colombia and Peru.Exports to Argentina by contrast almost ground to a halt in January as they dipped even further from already-low levels of less than 11,000 barrels in December.The slump in shipments coincided with a rise in Argentina’s lube demand in January that followed a sustained slide in the country's consumption since the middle of 2023.US base oils exports of 141,000 barrels to Brazil in January fell from less than 150,000 barrels in December to the lowest in twenty-five months.The December volume was the second-lowest during that time.Exports to Brazil fell even as the country’s lube consumption rose in January for a tenth month.Rising demand in Argentina and Brazil and falling US shipments to those countries raised the prospect of squeezing further an already tighter supply-demand balance in those markets..US’ Jan base oils exports hold steady.Brazil’s Jan lube demand extends rise.Argentina's January lube demand rises
US base oils exports to South America stayed lower than usual in January for a second month amid a further dip in shipments to Brazil and Argentina.Lower exports contrasted a sustained rise in Brazil’s lube consumption and a recent recovery in Argentina’s lube demand.The dynamic increased the need for additional base oils supplies from overseas markets to avoid a shortfall.The need for more supplies was likely to increase ahead of a seasonal rise in demand in those markets later in the first quarter of the year.The drop in shipments from the US instead raised the prospect of leaving the supply-demand balance increasingly tight in those markets.US base oils exports of close to 370,000 barrels (52,000 tonnes) in January rose from a thirty-five-month low of less than 260,000 barrels in December, government data showed..The January volume was still unusually low and down from typical levels of close to 500,000 barrels/month in 2024.Exports rose from December on the back of a pick-up in shipments to Colombia and Peru.Exports to Argentina by contrast almost ground to a halt in January as they dipped even further from already-low levels of less than 11,000 barrels in December.The slump in shipments coincided with a rise in Argentina’s lube demand in January that followed a sustained slide in the country's consumption since the middle of 2023.US base oils exports of 141,000 barrels to Brazil in January fell from less than 150,000 barrels in December to the lowest in twenty-five months.The December volume was the second-lowest during that time.Exports to Brazil fell even as the country’s lube consumption rose in January for a tenth month.Rising demand in Argentina and Brazil and falling US shipments to those countries raised the prospect of squeezing further an already tighter supply-demand balance in those markets..US’ Jan base oils exports hold steady.Brazil’s Jan lube demand extends rise.Argentina's January lube demand rises
