Thailand’s base oils exports rose to a twenty-one month high in June as refiners tapped arbitrage opportunities to clear surplus volumes.Base oils exports of 27,700 kilolitres (24,540t) in June rose from 18,820kl the previous month and more than doubled from year-earlier levels, government data showed.Exports surged even amid a pause in shipments to China for a third month.A wave of shipments instead moved to less regular outlets like India and UAE and even to the Mediterranean market.Thailand’s base oils exports in June included a 3,500kl cargo to Greece. The last shipment to Greece was less than 300kl last October.Before then, there had been no shipments to the country in more than five years..Global base oils - week of July 31: Price outlook - arbitrage
Thailand’s base oils exports rose to a twenty-one month high in June as refiners tapped arbitrage opportunities to clear surplus volumes.Base oils exports of 27,700 kilolitres (24,540t) in June rose from 18,820kl the previous month and more than doubled from year-earlier levels, government data showed.Exports surged even amid a pause in shipments to China for a third month.A wave of shipments instead moved to less regular outlets like India and UAE and even to the Mediterranean market.Thailand’s base oils exports in June included a 3,500kl cargo to Greece. The last shipment to Greece was less than 300kl last October.Before then, there had been no shipments to the country in more than five years..Global base oils - week of July 31: Price outlook - arbitrage