Base oil export volumes from the United States were 26% higher in July, and base oil imports into the U.S. jumped by more than 140%, compared to the same month last year, according to U.S. government agency data.
The U.S. Energy Information Administration reported that U.S. base oil exports reached a record 3.9 million barrels in July, compared to 3.1 million barrels in the same month last year. This was the third month this year that exports topped 3.6 million barrels, along with March and May. The July volume was also 21% higher than 3.2 million barrels in July 2020. Sequentially, the volume was 17% more than 3.3 million barrels in June.
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