Base Oil Exports from the United States Jump


Base Oil Exports from the United States Jump

Base oil exports from the United States surged 56% in September, boosted by increased shipments to Mexico and South America, while the volume of base oil imported from foreign markets declined by 22%, according to data released by a U.S. government agency.

The U.S. exported 3.5 million barrels of base oil in September, compared to 2.2 million in the same month last year, the U.S. Energy Information Administration reported on Nov. 30. The volume was the fourth highest for a month this year. Year-to-date through September, base oil exports decreased 6% to 30.1 million barrels.

U.S. base oil exports to Mexico jumped 129% to 1.4 million barrels in September, compared to 594,000 barrels. It marked the sixth month this year that such exports to Mexico topped the 1 million barrels mark, after only exceeding that mark once last year, in February.

The U.S. sent 293,000 barrels of base oil to Canada in September, a 2% increase. Base oil exports to Brazil jumped 191% to 230,000 barrels, compared to 79,000 barrels.

The largest rise in U.S. base oil export volume – by 422% — occurred in a smaller market, Ecuador, to 120,000 barrels, compared to 23,000 barrels. That was the first time since March 2019 that base oil exports to the South American country reached the 100,000 barrels mark. Another smaller market with a large increase was Turkey, where U.S. base oil exports rose 203% to 112,000 barrels, compared to 37,000 barrels. That marked the first time the volume exported to Turkey reached 100,000 barrels since September 2009.

Among other South American countries, U.S. base oil exports rose 13% to 434,000 barrels in Brazil and grew 140% to 115,000 barrels in Peru.

U.S. base oil exports to India jumped 53% to 153,000 barrels.

The volume of U.S. base oil imports fell to 1.2 million barrels in September, compared to 1.5 million barrels. Year-to-date through September, U.S. base oil imports declined 7% to 12.2 million barrels.

In September, base oil imports from Qatar decreased 6% to 365,000 barrels, while no base oil imports were reported from the United Arab Emirates, compared to 243,000 barrels. Imported base oil from Korea declined 11% to 293,000 barrels, while base oil from Canada decreased 4% to 267,000 barrels.

The only sizeable destination for U.S. base oil exports showing an increase in September was Indonesia, with a 99% jump to 133,000 barrels.

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