India’s May base oil imports hold steady

India’s base oils imports held firm in May at their second-highest level in ten months as a wave of arbitrage shipments from the US continued to reach the country.

A surge in supplies from the UAE added to the volume.

India’s base oils imports of around 290,000t in May fell from little more than 300,000t the previous month, provisional customs data showed.

Imports had averaged less than 250,000 t/month in the previous eight months to March amid a dip in shipments of very-light grade base oils especially.

India’s base oils imports got a boost from the delivery of more than 20,000 t/month from the US in April and in May.

The arbitrage shipments from the US showed signs of extending at least through the month of June.