Turkey's May Grp I base oil imports rise

Turkey’s Group I base oils imports rose in May even in the face of firmer domestic production.

Base oils imports of 31,220t in May rose from 26,250t the previous month and by 18pc from year-earlier levels, government data showed.

The volume rose for the fifth time in six months from the previous year, lifting total imports to 153,210t in the first five months of the year.

The volume was up 16pc from close to 132,000t during the same period last year.

Shipments from European sources like Greece and Italy accounted for some 74pc of the total.

The share of supplies from Europe held close to that level since February.

The share had fallen to less than half of Turkey’s import volume in second-half 2022 in the face of a surge in supplies from Russia.