US base oils exports stayed unusually low in September for a second month amid signs of prolonged plant maintenance work during the summer.Base oils exports of 1.30mn bl (183,180t) in September rose from 1.23mn bl the previous month, government data showed.The August volume had been the lowest since September 2021, when a drop in shipments coincided with several hurricanes that struck the US Gulf coast region that month..The volume this September was the second lowest in a year and the fourth lowest since 2016. Exports averaged more than 1.75mn bl/month since then.The sharp drop in base oils exports in August and September contrasted with unusually high shipments of more than 1.92mn bl/month in the first seven months of the year.The high volumes during that period helped to plug a supply shortfall in the European market especially.The fall in base oils exports in August coincided with a slump in US base oils production that month to its lowest since early 2021. .US' August base oils/lube output slumps.Output slumped even as US Gulf coast refiners faced an unusually quiet Atlantic hurricane season. The fall in production in August instead suggested a major plant shutdown was taking place.Plant maintenance work had already been taking place in the US West coast. Base oils exports from the region already fell sharply in August. Exports extended their fall in September.Base oils exports of 415,580bl in the second and third quarters of the year combined from the district of San Francisco were down from close to 980,000bl in the first three months of the year.The slowdown in US base oils exports compared with first-half 2022 also coincided with lower base oils prices in markets like Europe and Africa and a drop in demand in those markets.The trend complicated the arbitrage for shipments from the US..US’ August base oils exports fall
US base oils exports stayed unusually low in September for a second month amid signs of prolonged plant maintenance work during the summer.Base oils exports of 1.30mn bl (183,180t) in September rose from 1.23mn bl the previous month, government data showed.The August volume had been the lowest since September 2021, when a drop in shipments coincided with several hurricanes that struck the US Gulf coast region that month..The volume this September was the second lowest in a year and the fourth lowest since 2016. Exports averaged more than 1.75mn bl/month since then.The sharp drop in base oils exports in August and September contrasted with unusually high shipments of more than 1.92mn bl/month in the first seven months of the year.The high volumes during that period helped to plug a supply shortfall in the European market especially.The fall in base oils exports in August coincided with a slump in US base oils production that month to its lowest since early 2021. .US' August base oils/lube output slumps.Output slumped even as US Gulf coast refiners faced an unusually quiet Atlantic hurricane season. The fall in production in August instead suggested a major plant shutdown was taking place.Plant maintenance work had already been taking place in the US West coast. Base oils exports from the region already fell sharply in August. Exports extended their fall in September.Base oils exports of 415,580bl in the second and third quarters of the year combined from the district of San Francisco were down from close to 980,000bl in the first three months of the year.The slowdown in US base oils exports compared with first-half 2022 also coincided with lower base oils prices in markets like Europe and Africa and a drop in demand in those markets.The trend complicated the arbitrage for shipments from the US..US’ August base oils exports fall
