Europe’s June base oils exports fall

Europe’s base oils exports to markets outside the region rose in June for the first time in four months on the back of a jump in shipments from UK.

Exports from continental Europe fell in June for a third month.

Total exports rose to around 258,000t in June, government data showed.

The volume rose from 220,000t the previous month and by 15pc from year-earlier levels.

Excluding the UK, total base oils exports fell by 26pc and for a third month from year-earlier levels.

Total exports still fell in the second quarter even with the rise in June shipments.

Exports of 718,000t in the three months to end-June fell from more than 900,000t in the first quarter and by 15pc from year-earlier levels

The volume was the lowest since exports fell to 699,000t in the second quarter of 2020, when pandemic-related restrictions slashed economic and trade activity.

Exports were only slightly higher than that volume in 2020, despite the lack of any such restrictions.