(Editor’s note: Updated at 11:30 a.m. EST Nov. 30 to include price changes announced by SK Enmove and Excel Paralubes.) A number of paraffinic base oil producers joined the ranks of Chevron and Motiva, who had announced posted price decreases last week prompted by subsiding crude oil and feedstock values and slowing base oil demand. Reports circulated that Excel Paralubes, ExxonMobil, Calumet and SK Enmove would also be lowering their postings in the next few days. On the naphthenic base oils front, the light grades were described as tight, but availability may improve once a plant turnaround is completed on Dec. 8.
Aside from the posted price adjustments, market activity was somewhat subdued this week, following the Thanksgiving holiday in the United States and ahead of the ICIS Pan American Base Oils and Lubricants conference being held in New Jersey Nov. 30-Dec. 1.