Israel’s base oils imports fell to a three-month low in April amid signs of a shrinking supply surplus in Europe.Base oils imports of 4,490 kilolitres (3,980t) in April fell from more than 7,700kl in each of the previous two months and by 54pc from year-earlier levels, government data showed.Imports of 23,840kl in the first four months of the year fell by 37pc from more than 38,000kl during the same period last year.Imports fell in April amid a sharp slowdown in shipments from Greece and lower volumes from Italy.Shipments from those markets rose in the first quarter of the year as regional refiners sought to clear a large overhang of surplus supplies.The slowdown in shipments in the second quarter of the year coincided with plant maintenance work in the Mediterranean region..Europe’s February base oils supply falls.Base Oil News stories and analysis also available on ICIS platform
