US base oils shipments to Latin America rose to a fifteen-month high in June even as the country's total exports fell.

Base oils exports of 597,650bl (84,200t) in June rose from close to 510,000bl the previous month, government data showed. The volume excluded supplies to Mexico.

The rise in shipments lifted total exports to 1.52mn bl in the second quarter of the year.

The volume was up from 1.48mn bl in the first three months of the year and the second highest since 2020.

The sustained rise in shipments helped to clear an overhang of surplus supplies from the US market.

With total US exports falling in June, the share of shipments bound for Latin America rose to more than 35pc of the total.

The share was up from around 25pc of the total over the previous six months.