U.S. Base Oil Exports Dropped in June


U.S. Base Oil Exports Dropped in June

The Unites States exported 22% less base oil in June, with the steepest drops occurring in exports to Colombia and Belgium, while base oil imports decreased by 3%, according to data released by the U.S. Energy Information Administration.

The U.S. exported 3.2 million barrels of base oil in June, compared to 4.2 million barrels in the same month last year. It was still the third-highest volume for a month this year, behind 4.1 million barrels in both March and May.

The destination with the largest drop off in U.S. base oil exports in June was Colombia, where the volume plummeted 97% to 61,000 barrels, compared to 1.7 million barrels. Base oil exports to Belgium fell 28% to 177,000 barrels.

Smaller declines in base oil exports occurred with Canada and Chile. Exports to Canada decreased 5% to 280,000 barrels, and by 5% also to Chile to 112,000 barrels.

Destinations experiencing notable upswings in U.S. base oil exports in June included India, Mexico and Brazil. The export volume to India skyrocketed 2,589% to 242,000 barrels, compared to 9,000 barrels. Exports to Mexico jumped 71% to 1.3 million barrels, up from 731,000 barrels, and base oil sent to Brazil rose 30% to 415,000 barrels.

The U.S. imported 1.35 million barrels of base oil in June, compared to 1.39 million barrels.

The volumes of base oil that the U.S. imported from South Korea, Canada, the United Arab Emirates and Qatar were all down for the month.

The volume of base oil imported from South Korea dropped 27% to 366,000 barrels, compared to 289,000 barrels.

Base oil imported from Qatar declined 10% to 326,000 barrels. The U.S. received 13% less barrels of base oil from the U.A.E., at 223,000.

Canada’s deliveries of base oil to the U.S. decreased 9% in June to 277,000 barrels.

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