June base oil imports from UAE fall

The delivery of premium-grade base oils from the UAE to key global outlets stayed lower than usual in June amid a dip in shipments to the US.

The key markets of the US, Europe and Asia took delivery of less than 26,000t of base oils from the UAE in June, government and customs data showed.

The volume fell from close to 52,000t the previous month and from typical levels of around 37,000 t/month over the past year.

The drop in shipments cut total supplies to 212,300t in first-half 2023, down 15pc from 250,490t during the same period last year.

Shipments reaching Asia and the US slumped in June to a combined total of less than 15,000t, from more than 40,000t the previous month.

The slowdown contrasted with a rise in shipments to Europe to a ten-month high.