U.S. Base Oil Imports, Exports Up in April


U.S. Base Oil Imports, Exports Up in April

Base oil exports from the United States rose 11%, and imports increased 18% in April, according to data released by the U.S. Energy Information Administration.

Exports to Mexico, Chile, Panama, the United Arab Emirates and Nigeria all jumped by triple-digit percentages.

The U.S. exported 3.2 million barrels of base oil in April, compared to 2.9 million barrels. Although it was a sequential decline from 4.1 million barrels in March, April’s export volume was the second-highest total since 3.9 million barrels in July 2022.

The U.S. exported 48% more base oil to Mexico, at 961,000 tons, up from 651,000 tons. Exports to Chile surged 168% to 150,000 tons, compared to 56,000 tons. Exports to Panama shot up 477% to 150,000 barrels in April, compared to 26,000 barrels. That was the highest volume the U.S. exported to that country since 229,000 barrels in February 2021.

Among other countries in the Americas, declining were U.S. base oil exports to Canada, by 22%, to 261,000 barrels, and to Brazil, by 14% to 254,000 barrels.

U.S. base oil exports to Belgium declined 15% to 355,000 barrels, compared to 419,000 barrels.

Base oil exports from the U.S. to the United Arab Emirates jumped 179% to 159,000 barrels in April, marking the second straight month above 100,000 barrels. Before March, the last time exports to the U.A.E. topped that figure was August 2020, with 114,000 barrels.

Exports to Nigeria surged 836% to 206,000 barrels, compared to 22,000 barrels. That was the largest volume exported from the U.S. to Nigeria since 277,000 barrels in March 2022.

The U.S. imported 1.6 million barrels of base oil in April, compared to 1.4 million barrels. It was the highest import total since reaching the same mark in December last year.

Imports from Qatar surged 99% to 657,000 barrels, compared to 331,000 barrels.

Base oil imports from the United Arab Emirates reached 225,000 barrels in April, compared to none in the same period last year. That was in line with most of 2022, when imports from the country topped the 200,000 barrels mark in eight months.

Imports from South Korea dropped 24% to 298,000 barrels, and such imports from Canada declined 10% to 288,000 barrels.

Indonesia imported 46% less from the U.S. in April, down to 60,000 barrels, from 112,000 barrels.

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