Spain’s Oct Cartagena premium-grade exports fall

Exports of premium-grade base oils from the Spanish port of Cartagena fell in October from the previous month amid a pause in flows to outlets like India.

Total exports of close to 40,000t in October fell from more than 60,000t the previous month, port data showed.

The drop in shipments extended a trend in recent months of unusually high exports one month followed by a sharp fall in shipments the following month.

Monthly shipment volumes mostly held in a narrower range in 2022.

Even with the increased volatility, average shipments of more than 50,000 t/month so far in second-half 2023 were up from less than 45,000 t/month in 2022.

The flow of supplies to northwest Europe held steady in October even as total export volumes fell.

There was instead a pause in shipments to India for just the second time in the past year.