Asia’s April base oils exports fall

Asia’s base oils exports fell in April to their lowest level this year amid a combination of lower supply and weaker demand.

Base oils exports of more than 678,000t in April fell from almost 767,500t the previous month, government data showed.

The volume was the lowest since last December.

Exports slowed in the face of weaker-than-expected Chinese demand and a slowdown in demand in southeast Asia.

Some refiners also built stocks ahead of and during a round of plant maintenance work in the second quarter of the year.

Base oils exports from southeast Asia fell to less than 175,000t in April, from more than 240,000t the previous month.

Exports from northeast Asia fell less steeply to around 504,000t in April, from more than 527,000t the previous month.