Turkey’s Group I base oils imports rose to a four-month high in July amid a simultaneous pick-up in shipments from Russia and the Mediterranean market.Imports of 36,100t in July rose from a seven-month low of 21,600t in June, government data showed.The rise in shipments lifted total Group I imports to 211,000t in the first seven months of the year, up from 180,000t during the same period last year.Imports rose in 2023 and in July despite the further depreciation of Turkey’s currency versus the US dollar.The higher volumes partially balanced out a drop in Turkey’s domestic base oils production to 39,000t in first-half 2023, down from 47,000t during the same period last year.Shipments also got a boost from higher flows from Russia and Italy.Imports of 54,000t from Russia in the first seven months of the year rose from 41,000t during the same period last year.Imports of 77,000t from Italy in the first seven months of the year were up from 45,000t during the same period last year..Italy’s June base oils output slumps
Turkey’s Group I base oils imports rose to a four-month high in July amid a simultaneous pick-up in shipments from Russia and the Mediterranean market.Imports of 36,100t in July rose from a seven-month low of 21,600t in June, government data showed.The rise in shipments lifted total Group I imports to 211,000t in the first seven months of the year, up from 180,000t during the same period last year.Imports rose in 2023 and in July despite the further depreciation of Turkey’s currency versus the US dollar.The higher volumes partially balanced out a drop in Turkey’s domestic base oils production to 39,000t in first-half 2023, down from 47,000t during the same period last year.Shipments also got a boost from higher flows from Russia and Italy.Imports of 54,000t from Russia in the first seven months of the year rose from 41,000t during the same period last year.Imports of 77,000t from Italy in the first seven months of the year were up from 45,000t during the same period last year..Italy’s June base oils output slumps