Taiwan April exports to Americas pause

Taiwan exported no base oils to the Americas in April for the first time in four months.

The pause in exports contrasted with a wave of shipments to the region in second-half 2022 and early this year.

Those shipments took advantage of a wide-open arbitrage for light and heavy-grade base oils.

A less attractive arbitrage and firmer demand in the Asia-Pacific market in recent months curbed the incentive or need to move supplies to the Americas.

A drop in Asia-Pacific flows to the Americas in turn provided more opportunities for US refiners to cover requirements in that region.