Global base oil exports to Nigeria fell to a ten-month low in August amid a drop in supplies from the US and unusually-low volumes from Europe.Total exports came to less than 15,000t in August, government and shipping data showed.Shipments fell from an already-low volume of less than 17,000t in July to the lowest since October 2022.Exports to Nigeria had previously averaged more than 26,000 t/month in the year to June.The August volume would have been even lower if not for a pick-up in supplies from the Baltic region and from Turkey.The slowdown in shipments highlighted the West African country’s reliance on two major sources for most of its supplies.Exports of 226,000t to Nigeria in the first eight months of the year still exceeded year-earlier volumes of close to 200,000t.The higher volumes reflected a strong rise in shipments in the first half of the year, before the onset of the rainy season in Nigeria when lube demand typically slows..US’ Aug base oils exports to Africa fall
Global base oil exports to Nigeria fell to a ten-month low in August amid a drop in supplies from the US and unusually-low volumes from Europe.Total exports came to less than 15,000t in August, government and shipping data showed.Shipments fell from an already-low volume of less than 17,000t in July to the lowest since October 2022.Exports to Nigeria had previously averaged more than 26,000 t/month in the year to June.The August volume would have been even lower if not for a pick-up in supplies from the Baltic region and from Turkey.The slowdown in shipments highlighted the West African country’s reliance on two major sources for most of its supplies.Exports of 226,000t to Nigeria in the first eight months of the year still exceeded year-earlier volumes of close to 200,000t.The higher volumes reflected a strong rise in shipments in the first half of the year, before the onset of the rainy season in Nigeria when lube demand typically slows..US’ Aug base oils exports to Africa fall
