U.S. Base Oil Exports Rise in May


U.S. Base Oil Exports Rise in May

The United States exported 11% more base oil in May – boosted by triple-digit percentage increases in volumes to India, Mexico and Nigeria – according to government data.

In contrast, U.S. base oil import volumes for the month declined by 2%.

Base oil exports from the U.S. reached 4.1 million barrels in May, compared to 3.7 million barrels in the same month last year, according to U.S. Energy Information Administration data released July 31.

The volume of base oil exported to India skyrocketed nine-fold to 377,000 barrels, compared to 42,000 barrels. Base oil exports to Mexico doubled to 1.4 million barrels, and they jumped 124% to 208,000 barrels for Nigeria.

U.S. base oil exports to Belgium declined 11% to 534,000 barrels, although that was the largest amount sent to any one country.

The country exported 373,000 barrels to Brazil, a 25% jump, and exports to Canada rose 15% to 302,000 barrels.

The U.S. imported 1.5 million barrels of base oil in May, down slightly.

Base oil imports from the United Arab Emirates plummeted 47% to 139,000 barrels, while imports from Qatar increased 3% to 416,000 tons.

Imports from other countries that ship large volumes to the U.S. experienced little year-on-year change in May. Shipments from South Korea decreased 1% to 373,000 tons, while those from Canada were unchanged at 278,000 tons.

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