US base oil exports in January declined from a year earlier by 17pc to 103,130 b/d, the Energy Information Administration (EIA) reported Tuesday.
- Compared with December, exports in January were down by 1.8pc.
- US exports to Mexico fell by 61pc from a year earlier with many blenders in that region sufficiently supplied. Exports declined from December by nearly 1pc as refiners pulled back on December offers aimed at clearing domestic inventories ahead of tax assessments.
- Exports to Brazil more than tripled from year-earlier levels to 19,420 b/d because of increased reliance on US producers for Group I grades, particularly bright stock. This also increased exports to Brazil by 46pc from December totals.
- US exports to Belgium, France and the Netherlands – a proxy for European demand – rose on the year by 41pc to 18,750 b/d, possibly from increased internal base oil transfers. Exports were little changed from December.
- US exports to Ecuador, Chile and Peru – a proxy for west coast South American demand – fell in January to 3,450 b/d, down by 57pc from year-earlier levels and down by 55pc from December.
- Buyers in the west coast of South America had weaker interest in importing US grades because of sufficient inventories following December imports.
| US base oil exports | b/d | ||
| Country | Jan-26 | m-o-m±% | y-o-y±% |
| Mexico | 24,610 | -0.7 | -61 |
| Brazil | 19,420 | 46 | 260 |
| Belgium | 16,100 | 13 | 55 |
| France | 1,970 | 110 | -30 |
| The Netherlands | 680 | -81 | 950 |
| India | 2,680 | 30 | 46 |
| Ecuador | 1,740 | 46 | 0 |
| Peru | 610 | -79 | -84 |
| Chile | 1,100 | -70 | -129 |
| Total | 103,130 | -1.8 | -17 |
| *Total includes all countries, not just those listed | |||
| Energy Information Administration (EIA) | |||
