Volume 4 Issue 36
United States refiners churned out a robust 5.7 million barrels of base oil in June, according to new data from the U.S. Energy Information Agency, beating pre-pandemic levels for the second consecutive month. It was also represented a further increase from the 5.6 million barrels produced in May of this year and was the market’s highest output in nearly three years.
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A new line of high performance fluids and lubricants designed specifically for the industrial segment is on the horizon. Fueled by increasing demand for industrial lubricants, the new EX range elevates STARFIRE’s portfolio by extending its offering in this important segment of the market.
Improving supply chain visibility, managing costs and overcoming labor shortages through innovation are three key concerns that oil and petroleum distributors cited in a recent survey by a packaging supply company. Minneapolis, Minnesota-based Graco Inc. commissioned a survey of fluid distributors to capture a snapshot of the current market.
Brazil’s base oil production was up 13% and its base oil import volumes were up by more than 150% in July, compared to the same month last year. Production neared and import volumes exceeded numbers from July 2019. The South American country’s base oil production reached 60,000 metric tons in July, topping the 53,000 tons mark set in July 2020, while down 10% from 67,000 tons in the same month in 2019, according to data released by the National Agency of Petroleum, Natural Gas and Biofuels.