Thailand's base oil exports more than tripled on the year in June because of stronger Asian demand.
Thailand exported 27,700 kilolitres (24,400t) of base oils in June, up by 47pc on the month and 51pc higher than the five-year average of 18,300 kl/month.
The rise in shipments was driven by more robust Asian demand that rose by 38pc from 14,900 kl in May to 20,600 kl in June, which was also almost triple that of 8,000 kl a year earlier.
India bought 5,500 kl of base oils in June, marking its first base oil import from Thailand since October 2022.
Supplies to India are infrequent, as the south Asian country is well supplied with domestically produced and competitively priced Group I base oils. Thai cargoes have moved to India only 1-3 times a year since 2019.
Thailand produces only Group I base oils.
Exports to Southeast Asia rose by 19pc on the month and more than doubled on the year to 12,700 kl in June.
Singapore took in 6,700 kl of base oils from Thailand in June. The city-state is typically Thailand's largest buyer in southeast Asia. Deliveries to Singapore fell by 27pc from May but rose by 54pc from the same period last year.
Exports to China remained at zero for a third consecutive month as weak demand and plentiful domestic supplies curbed Chinese appetite for Thai base oils.
Supplies to the Mideast Gulf totalled 3,500 kl in June, just 4.4pc higher than the last month. There were no exports to the Mideast Gulf in June 2022.
