South Korea’s base oils exports to Europe stayed lower than usual in July amid signs of a more prolonged slowdown in Group III shipments to the region.Exports of 4,310t in July to the Netherlands and Belgium combined edged up from 3,820t the previous month, government data showed.Exports to the two countries had been close to 16,000 t/month over the previous twelve months before June.The two countries are the key destinations in Europe for Group III base oils shipments from South Korea.The slowdown partly reflected a drop in supply from South Korea because of the shutdown of a key Group III base oils unit for plant maintenance work from May to July.The slowdown also coincided with signs of increasingly plentiful Group III base oils supplies in Europe. The trend incentivized South Korea's refiners to cut output or redirect supplies to other markets. .S Korea’s July base oils exports fall
South Korea’s base oils exports to Europe stayed lower than usual in July amid signs of a more prolonged slowdown in Group III shipments to the region.Exports of 4,310t in July to the Netherlands and Belgium combined edged up from 3,820t the previous month, government data showed.Exports to the two countries had been close to 16,000 t/month over the previous twelve months before June.The two countries are the key destinations in Europe for Group III base oils shipments from South Korea.The slowdown partly reflected a drop in supply from South Korea because of the shutdown of a key Group III base oils unit for plant maintenance work from May to July.The slowdown also coincided with signs of increasingly plentiful Group III base oils supplies in Europe. The trend incentivized South Korea's refiners to cut output or redirect supplies to other markets. .S Korea’s July base oils exports fall