The delivery of premium-grade base oils from the Mideast Gulf to key global outlets fell to a four-month low in June, with the fall in US-bound supplies especially steep.
The key markets of US, Europe and Asia took delivery of less than 185,000t of base oils in June from Qatar, Bahrain and UAE combined, government and customs data showed.
The volume fell from more than 325,000t in May.
Even with the slowdown, shipments of more than 735,000t in second-quarter 2023 rose from less than 645,000t during the first three months of the year.
The US took delivery of less than 40,000t in June. The volume was the lowest in fifteen months.
Supplies of close to 80,000t reaching Asia in June fell back from close to 180,000t the previous month.
Shipments to Europe were steadier in June at more than 67,000t, down from little more than 70,000t the previous month.