Brazil Base Oils Hit a Bump

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Brazil Base Oils Hit a Bump

Base oil production in Brazil in November was slightly lower than in the same month last year, ending a streak of three consecutive months in which year-over-year totals were at least 20% higher. Base oil imports were also down by nearly 30% in the month.

The South American country’s base oil production – primarily API Group I – slipped to 47,000 metric tons in November, down 2% from the same month in 2020. It was also 11% lower than 53,000 tons produced in November 2019, according to data released last week by the National Agency of Petroleum, Natural Gas and Biofuels.

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Sequentially, the November total was down 6% from 50,000 tons in October. The 47,000 tons in November was on the low end of monthly production totals since June, which were in the 47,000 to 60,000 tons range.

In the first 11 months of the year Brazil produced 504,000 tons of base oil, a 27% increase from 396,000 tons for the same period in 2020 and 2% higher than 494,000 tons for the same period of 2019.

The country imported 92,000 tons of base oil in November, a 29% drop from 129,000 tons in the same month last year, but 39% higher than 66,000 tons in November 2019. Sequentially, imports rose 2% from 90,000 tons in October.

Brazil exported 8,200 tons of base oil in November, an 11% increase from 7,400 tons in November 2020 and 6% more than in the same month in 2019. Sequentially, exports were 2 higher than 26,000 tons in November.

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