Indonesia’s Group III base oils exports fell to a four-month low in July, holding well below typical levels before this year.Base oil exports of less than 9,000t in July fell from almost 19,000t the previous month, government data showed.Exports fell by 73pc and for the thirteenth month from year-earlier levels.The slowdown cut total shipments to 100,460t in the first seven months of the year, down from almost 183,000t during the same period last year.This year's slowdown mostly reflected a slump in shipments to South Korea. A large portion of those supplies have then typically moved on to the US.Shipments to Europe had been relatively steadier in first-half 2023 even with the fall in total exports.The dynamic changed in July.Almost all of Indonesia’s base oils exports moved to South Korea in July.There were by contrast no shipments to Europe or to China. .Global base oils - week of Sep 4: Price outlook - arbitrage
Indonesia’s Group III base oils exports fell to a four-month low in July, holding well below typical levels before this year.Base oil exports of less than 9,000t in July fell from almost 19,000t the previous month, government data showed.Exports fell by 73pc and for the thirteenth month from year-earlier levels.The slowdown cut total shipments to 100,460t in the first seven months of the year, down from almost 183,000t during the same period last year.This year's slowdown mostly reflected a slump in shipments to South Korea. A large portion of those supplies have then typically moved on to the US.Shipments to Europe had been relatively steadier in first-half 2023 even with the fall in total exports.The dynamic changed in July.Almost all of Indonesia’s base oils exports moved to South Korea in July.There were by contrast no shipments to Europe or to China. .Global base oils - week of Sep 4: Price outlook - arbitrage
