The United States base oil market was jolted out of its fairly placid state by price increase announcements this week. According to reports, ExxonMobil communicated a posted price increase driven by tight supply and rising crude oil and feedstock prices. On the naphthenic side, Cross Oil also informed its customers of an upcoming price adjustment.
ExxonMobil’s initiative would raise all of its API Group I, II and II+ base oil grades by 40 cents per gallon across the board as of Jan. 20. The Price Table below will be revised next week when the increases go into effect.
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