UK’s May base oils exports fall

The UK’s base oils exports fell for the eighth time in nine months in May amid a sustained slowdown in shipments to Europe.

Total exports of 25,710t in May fell 32pc from year-earlier levels, government data showed. Exports edged up from 22,550t the previous month.

The sustained year-on-year slowdown cut total exports to 134,580t in the first five months of the year.

The volume was down 8pc from 146,510t during the same period last year.

Exports of 46,040t to Europe in the first five months of the year fell by a steeper 25pc from year-earlier levels.

More supplies moved instead to outlets in Africa like Nigeria, Senegal, and South Africa.

Exports of more than 76,000t to Africa in the first five months of the year rose from less than 71,000t to the region during the same period last year.