Global imports from UAE rise in August

The delivery of premium-grade base oils from the UAE to key global outlets rose to a seven-month high in August amid a rebound in shipments to Europe and the US.

Those markets along with Asia took delivery of more than 54,000t of base oils from the UAE in August, government and customs data showed.

The volume more than doubled from July levels and lifted total shipments to almost 290,000t during the first eight months of the year.

The volume remained down 12pc from more than 325,000t during the same period last year.

Supplies fell this year as a drop in shipments to the US and Asia outweighed a rise in flows to Europe.

The trend changed in August as US imports from the UAE rose to a four-month high.

Shipments to Asia rose to a three-month high.

Supplies rose even as a slump in China’s imports from the UAE continued through August.

More shipments instead moved to India, where Group III base oils demand is rising strongly.