Singapore’s March base oils exports rise

Singapore’s base oils exports rose to a three-year high in March as supplies from domestic refiners surged.

Exports of 211,360t in March rose from 164,630t the previous month to the highest since February 2020, government data showed.

Exports had slumped in the intervening years because of Covid-related disruptions that impacted demand in different parts of Asia at different times.

The March volume was up from average levels of less than 160,000 t/month in 2021 and 2022.

It was still below average volumes of more than 260,000 t/month in 2019.

Exports rose because of a surge in shipments from domestic sources. These far outweighed a slowdown in re-exported supplies.