Volume 6 Issue 18
Another Slow February for U.S. Base Oils
May 3, 2023United States base oil production declined 14% in February, compared to the same month last year, according to data released April 28 by a U.S. government agency. The February total was the lowest monthly level in two years. February’s output fell just shy of 4 million barrels, down from 4.6 million barrels in the same month of 2022.
Afton Profits Rose in Q1
May 3, 2023Afton Chemical posted a 52% climb in operating profit for the quarter ending March 31, primarily due to higher selling prices, and sales increased 6%, parent company NewMarket Corp. said in its quarterly financial report.
Brazil Base Oil Output, Imports Dropped in March
May 3, 2023Brazil’s base oil production fell 35% in March and was down 7% in the first quarter, compared to the same periods last year, according to the latest government data. Base oil imports – which are mostly Group II oils from the United States – were also down for the month, though they posted a slight uptick for the quarter.
From Other Editions of Lube Report
May 3, 2023Two Blending Plants Announced in Turkey
Briefly Noted
May 3, 2023April auto sales in the United States are expected to be up 2% at 1.3 million units sold, according to a forecast released by Cox Automotive last week. Cox noted that product availability improved substantially, compared to the same period last year, and dealer lots are no longer empty.