US base oils exports to Europe fell to a three-month low in August, curbing a build-up of premium-grade supplies in the region during the third quarter of the year.The drop in exports contrasted with an unusual surge in US shipments of engine-oil lubricants to Europe to a multi-year high.Mexico is usually the main destination for those kinds of supplies.Total base oils exports of 289,000 barrels (41,000 tonnes) to Europe in August fell from close to 440,000 barrels the previous month and from more than 735,000 barrels in June, government data showed.The slowdown mostly reflected a pause in shipments from the district of San Francisco for the first time in three months.Exports to Europe fell even as total US base oils exports rose in August.Total exports got a boost from a surge in shipments to Africa especially.The drop in exports to Europe and rise in shipments to Africa could have reflected moves to curb a build-up of surplus volumes in Europe.Such a move would ease pressure on a market facing a seasonal slowdown in demand and signs of rising supply.Europe’s Group II base oils supply rebounded in July to a multi-year high on the back of a simultaneous surge in regional output and higher-than-usual in imports from the US.Europe’s firm Group II base oils prices relative to other regions boosted the attraction of curbing a buildup of surplus volumes that could put downward pressure on prices in that market.Still, the fall in US base oils exports to Europe in August contrasted with a surge in shipments of automotive and marine engine oils to the region to more than 730,000 barrels.Almost all the supplies moved to the UK after being shipped from the district of Houston-Galveston.The volume was the highest in more than six years and up from typical shipments of less than 50,000 barrels/month to the region..US’ August base oils exports rise.Netherlands’ July base oils output rises
US base oils exports to Europe fell to a three-month low in August, curbing a build-up of premium-grade supplies in the region during the third quarter of the year.The drop in exports contrasted with an unusual surge in US shipments of engine-oil lubricants to Europe to a multi-year high.Mexico is usually the main destination for those kinds of supplies.Total base oils exports of 289,000 barrels (41,000 tonnes) to Europe in August fell from close to 440,000 barrels the previous month and from more than 735,000 barrels in June, government data showed.The slowdown mostly reflected a pause in shipments from the district of San Francisco for the first time in three months.Exports to Europe fell even as total US base oils exports rose in August.Total exports got a boost from a surge in shipments to Africa especially.The drop in exports to Europe and rise in shipments to Africa could have reflected moves to curb a build-up of surplus volumes in Europe.Such a move would ease pressure on a market facing a seasonal slowdown in demand and signs of rising supply.Europe’s Group II base oils supply rebounded in July to a multi-year high on the back of a simultaneous surge in regional output and higher-than-usual in imports from the US.Europe’s firm Group II base oils prices relative to other regions boosted the attraction of curbing a buildup of surplus volumes that could put downward pressure on prices in that market.Still, the fall in US base oils exports to Europe in August contrasted with a surge in shipments of automotive and marine engine oils to the region to more than 730,000 barrels.Almost all the supplies moved to the UK after being shipped from the district of Houston-Galveston.The volume was the highest in more than six years and up from typical shipments of less than 50,000 barrels/month to the region..US’ August base oils exports rise.Netherlands’ July base oils output rises
