Oil refiners in Brazil produced 52,160 metric tons of base oil in March, according to the latest government data, the first month this year that output has kept pace with 2024.
The most recent statistics from the National Agency of Petroleum, Natural Gas and Biofuels also showed base oil imports to the country down by more than 25% in each of the first two months of the year.
March’s base oil production level was even with output in the same month of 2024. In January and February refiners produced 45,000 tons 37,800 tons, respectively, down 22% and 25% year to year.
The country imported 41,738 tons of base oil in February, down 32% from 61,060 tons in the same month of 2024. This followed a 28% drop in January, which had 79,225 tons this year compared to 110,409 tons in the same month last year. ANP has not yet posted petroleum product import and export data for March.
In recent years Brazil’s base oil imports have come mostly from the United States and have been mostly Group II oils. Brazil exports far smaller amounts of base oil than it imports. In February it exported 6,675 tons of the material, compared to 6,892 tons in the same month of last year. January’s export level of 7,246 tons was down from 15,202 tons.