South Korea Base Oil Exports Fall


South Korea Base Oil Exports Fall

South Korea exported 19% less base oil at a 32% drop in reported value in April, according to data released earlier this week by a government agency.

The country’s base oil exports volume declined to 314,764 metric tons in April, compared to 388,548 tons in the same month last year. That was the lowest export total for a month since 310,984 tons in November last year.

The reported value of the exported base oil dropped to $303.1 million, compared to $446,378. That was the lowest such value since $290.8 million last July.

The volume of base oil imported into South Korea jumped 26% to 23,509 tons, compared to 18,685 tons.

The imported base oil’s reported value rose to $27 million, rising 24% from $21.8 million.

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