Asia’s base oils exports fell to a six-month low in June, repeating a similar trend the same time a year earlier.Exports rebounded in the third quarter of 2022 as refiners moved to clear a swathe of surplus supplies. Regional base oils prices slumped in response.Exports showed signs of diverging from that pattern in the third quarter of this year amid signs of more balanced supplies.Total base oil exports of 614,000t in June fell from more than 630,000t in May, government data showed.Exports fell by 3pc and for a third month from year-earlier levels.Exports of 394,000t from northeast Asia in June fell from close to 442,000t the previous month to the lowest since first-half 2020.The drop in shipments mostly reflected a slump in exports from South Korea.Exports of 220,000t from southeast Asia in June rose from 189,000t in May to a three-month high. .S Korea’s July base oils exports fall
Asia’s base oils exports fell to a six-month low in June, repeating a similar trend the same time a year earlier.Exports rebounded in the third quarter of 2022 as refiners moved to clear a swathe of surplus supplies. Regional base oils prices slumped in response.Exports showed signs of diverging from that pattern in the third quarter of this year amid signs of more balanced supplies.Total base oil exports of 614,000t in June fell from more than 630,000t in May, government data showed.Exports fell by 3pc and for a third month from year-earlier levels.Exports of 394,000t from northeast Asia in June fell from close to 442,000t the previous month to the lowest since first-half 2020.The drop in shipments mostly reflected a slump in exports from South Korea.Exports of 220,000t from southeast Asia in June rose from 189,000t in May to a three-month high. .S Korea’s July base oils exports fall