UK’s Feb base oils exports rise

The UK’s base oils exports rose to a three-month high in February, with an unusually large share of the supplies moving to outlets beyond the European market.

Base oils exports of 32,750t in February rose from 18,750t the previous month, government data showed.

Shipments to EU countries accounted for less than 30pc of the total. The share was down from more than 40pc of total exports during the previous three months.

The rise in exports to other regions eased the overhang of surplus base oils supplies in the European market.