The U.S. market is not overtly strong, yet vessels are quietly fixed away and at rates that are not especially competitive. The European coastal market is making steady progress, but deep-sea is slow. Asian markets are rather slow all around.-by Adrian Brown

Arguing that privatization will lead to cheaper energy products, the administration of Brazilian President Jair Bolsonaro has announced plans to sell 60 percent of the governments stakes in eight refineries operated by state-run oil company Petrobras. Two of those facilities include base oil plants.

Four automakers reached an agreement last week with California on a voluntary framework for annual emissions reductions that would speed the transition to electric vehicles. The states deal with Ford, Honda, BMW of North America and Volkswagen Group of America sets a framework, designed to serve as an alternative path forward for clean vehicle standards nationwide.

Milacron reported a dip in operating earnings and sales for its Fluid Technologies segment in the second quarter, and Heritage Crystal-Cleans oil business segment experienced a decrease in revenues.