Argentina’s base oils supply rose to a seventeen-month high in June on the back of a surge in imports.Base oils imports of 14,550mᶟ (12,890t) in June rebounded from less than 3,500mᶟ in May to a seven-month high, government data showed.The rise in shipments boosted total imports to 25,670mᶟ in the second quarter of the year. The volume was still the lowest since the first quarter of 2022.Almost all the imports in June and in the second quarter originated from the US.A larger portion of Argentina’s imports in the first quarter of the year had originated from other markets like Europe and Asia-Pacific.Those arbitrage supplies disappeared in the second quarter.Argentina’s base oils output came to 7,800mᶟ in June and held below the 10,000mᶟ level for a fourth straight month.The low output extended the country’s reliance on imports to cover its requirements.The steady output and higher imports lifted the country’s total supply to 22,370mᶟ in June. The volume more than doubled from less than 9,300mᶟ the previous month..Argentina’s June lube demand rises
Argentina’s base oils supply rose to a seventeen-month high in June on the back of a surge in imports.Base oils imports of 14,550mᶟ (12,890t) in June rebounded from less than 3,500mᶟ in May to a seven-month high, government data showed.The rise in shipments boosted total imports to 25,670mᶟ in the second quarter of the year. The volume was still the lowest since the first quarter of 2022.Almost all the imports in June and in the second quarter originated from the US.A larger portion of Argentina’s imports in the first quarter of the year had originated from other markets like Europe and Asia-Pacific.Those arbitrage supplies disappeared in the second quarter.Argentina’s base oils output came to 7,800mᶟ in June and held below the 10,000mᶟ level for a fourth straight month.The low output extended the country’s reliance on imports to cover its requirements.The steady output and higher imports lifted the country’s total supply to 22,370mᶟ in June. The volume more than doubled from less than 9,300mᶟ the previous month..Argentina’s June lube demand rises