The surplus of US base oils exports over imports widened in July to the third-highest level in the past sixteen months, curbing the size of a build-up of surplus supplies during the summer months.The surplus of base oils exports over imports rose to 867,000bl (122,000t) in July and to 5.63mn bl in the first seven months of the year.The surplus rose from 4.26mn bl during the same period last year.The surplus widened more quickly from the start of the second quarter of the year.The volume came to 3.71mn bl in the four months to July, up from 2.19mn bl during the same period last year.The sustained rise in net exports helped to counter the impact of a slowdown in domestic demand, cut surplus supplies and give US producers more leverage over base oils prices..US’ July base oils exports rise.US’ July base oils imports rise
The surplus of US base oils exports over imports widened in July to the third-highest level in the past sixteen months, curbing the size of a build-up of surplus supplies during the summer months.The surplus of base oils exports over imports rose to 867,000bl (122,000t) in July and to 5.63mn bl in the first seven months of the year.The surplus rose from 4.26mn bl during the same period last year.The surplus widened more quickly from the start of the second quarter of the year.The volume came to 3.71mn bl in the four months to July, up from 2.19mn bl during the same period last year.The sustained rise in net exports helped to counter the impact of a slowdown in domestic demand, cut surplus supplies and give US producers more leverage over base oils prices..US’ July base oils exports rise.US’ July base oils imports rise