Volume 3 Issue 32
Base oil production in the United States regressed in May, falling to its lowest seasonally adjusted level since the start of the COVID-19 pandemic.
Despite setbacks from the pandemic, demand for bio-lubricants should continue to grow faster than the overall global lubricants market, an analyst said during a July 30 webinar. North America remains the top consumer of bio-lubes by volume.
Afton Chemical recorded lower operating profit and sales for its second quarter, and Valvoline reported decreases in operating income and sales for its fiscal quarter ending June 30, as both companies weathered the impacts of COVID-19.