Europe’s base oils exports to Nigeria stayed lower than usual in August even as they improved from the previous month.Exports of more than 12,000t to Nigeria from Europe and Baltic markets rose from less than 1,000t the previous month, government and shipping data showed.The rise in shipments lifted total exports to around 108,000t in the first eight months of the year.The volume rose from around 101,000t during the same period last year. It remained well down from 170,000t during the same period in 2021.Exports from Europe slumped this and last year amid a dip in Group I base oils supply and a slump in shipments from Russia.The trend forced buyers in Nigeria to turn to other markets like the US to cover their requirements..Europe’s August base oils exports rise
Europe’s base oils exports to Nigeria stayed lower than usual in August even as they improved from the previous month.Exports of more than 12,000t to Nigeria from Europe and Baltic markets rose from less than 1,000t the previous month, government and shipping data showed.The rise in shipments lifted total exports to around 108,000t in the first eight months of the year.The volume rose from around 101,000t during the same period last year. It remained well down from 170,000t during the same period in 2021.Exports from Europe slumped this and last year amid a dip in Group I base oils supply and a slump in shipments from Russia.The trend forced buyers in Nigeria to turn to other markets like the US to cover their requirements..Europe’s August base oils exports rise