Brazil is expected to show sustained demand for API Group II and Group III base oils in the coming years, an industry executive said Dec. 1 during a presentation at the ICIS Pan American Base Oils and Lubricants Conference.

Shareholders of lithium suppliers Livent Corp. and Allkem Ltd. both approved their proposed merger this month, the last main steps in a deal expected to close early next month. The new company, Arcadium Lithium plc, will have supply bases in Argentina, Australia and Canada and will combine expertise in extraction and processing of the chemical dubbed “white gold.”

Brazil refineries produced just 29,000 metric tons of base oil in November, 37% less than the same month of 2022 and the third consecutive month that output failed to top 30,000 tons.