Brazil Base Oils Stay Ahead of 2020

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Brazil Base Oils Stay Ahead of 2020
Photo courtesy of Petrobras

Base oil production in Brazil in October was more than 20% higher than in the same month last year, the third consecutive month that year-over-year totals were at least that much higher, while the country’s base oil exports skyrocketed more than 270% .

Brazil’s base oil output – primarily API Group I – jumped 24% to 50,000 tons in October, compared to 40,000 tons in the same period last year and was also up 6% from 48,000 tons in October 2019, according to data released by the National Agency of Petroleum, Natural Gas and Biofuels.

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Sequentially, the October total was down 17% from 60,000 tons in September. The 50,000 tons in October was in line with monthly production totals in the 47,000 to 60,000 range since June.

Year-to-date through October, the South American country’s base oil production reached 479,000 metric tons, 21% higher than 395,000 tons for the same period in 2020 and 4% shy of 498,000 tons for the first 10 months of 2019.

The country imported 90,000 tons of base oil in October, 27% higher than 71,000 tons in the same month last year, and 26% more than 72,000 tons in October 2019. Sequentially, imports were down 3% from 93,000 tons in September.

Brazil exported 26,000 tons of base oil in October, a 271% jump from 7,000 tons in October 2020 and 199% higher than 9,000 tons in the same month in 2019. Sequentially, exports doubled from 13,000 tons in September 2021.