Europe’s base oils exports to Nigeria fell to a three-year low in July, leaving the West African country to rely on supplies from other sources.Exports from Europe and Baltic markets to Nigeria fell to less than 1,000t in July, government and shipping data showed.The volume was the lowest since May 2020.Exports fell from a fifteen-month high of more than 30,000t in June. The higher volumes cushioned the impact of the slowdown in July shipments.A seasonal slowdown in demand in Nigeria in the third quarter likely stretched out the consumption of the June supplies.The June shipments included the removal of a swathe of surplus supplies in the UK.Tighter supplies in that market and plant maintenance in Italy curbed availability from both of those sources in July..US’ July base oils exports to Africa rise
Europe’s base oils exports to Nigeria fell to a three-year low in July, leaving the West African country to rely on supplies from other sources.Exports from Europe and Baltic markets to Nigeria fell to less than 1,000t in July, government and shipping data showed.The volume was the lowest since May 2020.Exports fell from a fifteen-month high of more than 30,000t in June. The higher volumes cushioned the impact of the slowdown in July shipments.A seasonal slowdown in demand in Nigeria in the third quarter likely stretched out the consumption of the June supplies.The June shipments included the removal of a swathe of surplus supplies in the UK.Tighter supplies in that market and plant maintenance in Italy curbed availability from both of those sources in July..US’ July base oils exports to Africa rise