South Korea exported 21% less base oil in September, and the reported value of those shipments fell 34%, a government agency reported.
The country exported 328,741 tons of base oil in September, compared to 414,605 tons in the same month of 2022, according to information published by the Korea Customs Service.
The declared value of those oils was $379 million, a steep decline from $575.5 million a year earlier.
Both amounts were the highest since May when the volume was 333,536 tons and the value $405.5 million.
Imports of base oil into South Korea decreased 12% to 27,959 tons in the month as the value fell 25% to $32.4 million.