Sweden’s base oil exports rose in March to their second highest since 2019, extending a sustained recovery in shipments since the beginning of last year.Total exports of 29,210t in March rose from 17,590t the previous month and by 11pc from year-earlier levels, EU data showed. The volume was the highest in six months and second highest since August 2019.Exports of 71,930t in the first three months of the year were up 15pc from the previous quarter and the second-highest quarterly volume since third-quarter 2019..Sweden’s base oil exports fell for at least four straight years to 2020, before recovering in 2021.The extension of that recovery into this year has been timely.It contrasted with a drop in base oils output from other key European sources like UK, Netherlands and Italy during the first quarter of the year. The fall in shipments from Russia to Europe compounded the drop in regional supplies.Belgium remained the destination for the largest volume of shipments from Sweden. The country is a key storage and redistribution hub for base oils in the region.Its share of Sweden's exports fell to 57pc of the total, down from 65pc in February.There was instead a surge in shipments to markets in northern Europe. Exports to Norway, Finland and Denmark combined rose to more than 7,200t in March. The exports were more than double typical volumes of around 3,500 t/month and the highest since 2018..Sweden’s February base oil exports fall
