South Korea’s base oils exports to India and Mideast Gulf fell to a three-year low in May as buyers in those markets lined up more supplies from other sources instead.Base oils exports to India and Mideast Gulf combined fell to 64,570t in May, government data showed. The volume fell from more than 100,000t the previous month to the lowest since May 2020, when global lockdown measures slashed base oils demand.The 38pc fall in exports from April outpaced the 14pc drop in South Korea’s total base oils shipments and contrasted with a rise in flows to southeast Asia.The steeper fall in shipments to India and Mideast Gulf coincided with a sustained flow of arbitrage shipments from the US to those markets..S Korea’s May base oils exports fall.Contact us for more information about the data for these stories
South Korea’s base oils exports to India and Mideast Gulf fell to a three-year low in May as buyers in those markets lined up more supplies from other sources instead.Base oils exports to India and Mideast Gulf combined fell to 64,570t in May, government data showed. The volume fell from more than 100,000t the previous month to the lowest since May 2020, when global lockdown measures slashed base oils demand.The 38pc fall in exports from April outpaced the 14pc drop in South Korea’s total base oils shipments and contrasted with a rise in flows to southeast Asia.The steeper fall in shipments to India and Mideast Gulf coincided with a sustained flow of arbitrage shipments from the US to those markets..S Korea’s May base oils exports fall.Contact us for more information about the data for these stories
