Europe’s imports of premium-grade base oils from the Mideast Gulf rebounded in August to the highest in a year following a slump in shipments the previous month.Base oils imports from the UAE and Bahrain combined rose to more than 36,000t in August, from around 10,000t the previous month, government data showed.Including Qatar, imports of more than 70,000t in August rose from less than 11,000t in July.Bahrain, the UAE and Qatar are key sources of Group III and Group III+ base oils. Imports of more than 400,000t from the three countries in the first eight months of the year rose from around 377,000t during the same period last year.The surge in Europe’s imports in August and unusually low volumes in July partly reflected the arrival of a large volume of supplies at the start of August rather than the end of the previous month.Imports averaged almost 53,000 t/month in the four months to August, up from less than 48,000 t/month in the first four months of the year.Imports trended higher in recent months even in the face of increasingly weak Group III base oils values in Europe, ICIS data showed..US’ August base oils imports fall
Europe’s imports of premium-grade base oils from the Mideast Gulf rebounded in August to the highest in a year following a slump in shipments the previous month.Base oils imports from the UAE and Bahrain combined rose to more than 36,000t in August, from around 10,000t the previous month, government data showed.Including Qatar, imports of more than 70,000t in August rose from less than 11,000t in July.Bahrain, the UAE and Qatar are key sources of Group III and Group III+ base oils. Imports of more than 400,000t from the three countries in the first eight months of the year rose from around 377,000t during the same period last year.The surge in Europe’s imports in August and unusually low volumes in July partly reflected the arrival of a large volume of supplies at the start of August rather than the end of the previous month.Imports averaged almost 53,000 t/month in the four months to August, up from less than 48,000 t/month in the first four months of the year.Imports trended higher in recent months even in the face of increasingly weak Group III base oils values in Europe, ICIS data showed..US’ August base oils imports fall