Base oil imports for November were down, while exports were up, year to year.

November’s domestic output of base oils ranked in the lowest 20% of monthly totals since the start of the COVID-19 pandemic. The November 2023 total was 4.3 million barrels. The second-lowest total so far for 2024 was 4.5 million barrels in January.

Production of paraffinic base oils in November was 3.7 million barrels, up from 3.6 million barrels a year earlier, while output of naphthenic base oils increased from 656,000 barrels to 691,000 barrels.

Combined production from January through November was 53.8 million barrels, up from 49.4 million barrels for the same period of 2023.

Base oil exports from the country in 2024 have been running comfortably ahead of 2023, but November’s level of 3.8 million barrels was down 10% from 4.2 million barrels in the same month of the prior year.

Mexico was by far the biggest destination, receiving 1.7 million barrels. Brazil, Belgium and Canada were next, taking in 266,000 barrels, 231,000 barrels and 211,000 barrels, respectively. The Brazil number was the lowest yet for 2024 and was down from 380,000 barrels in November of 2023. The quantity going to Belgium was relatively low but compared to 1.1 million barrels 12 months earlier, which was by far a record for exports to that country.

The U.S. imported 1.7 million barrels of base oil in November, up from 1.3 million barrels year to year. It was also the second-highest level this year after 2 million barrels in September. It was a bumper month for South Korea, the source of 626,000 barrels, the fourth-highest figure for that country, according to the EIA.

The greatest share came from Qatar, home of Shell’s gas-to-liquids joint venture with Qatar Petroleum, which includes a base oil plant. Since the plant opened in 2011, Shell has shipped base oils to the United States mostly for internal use in finished lubricant production. November’s total of 673,000 barrels was the second-highest, after 693,000 barrels in April 2024.