U.S. Base Oils Take Big Step Back in August

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U.S. Base Oils Take Big Step Back in August

Base oil production in the United States dropped to 4 million barrels in August, the lowest monthly total in a year and a half and 26% less than in the same month in 2021.

August production was down from 5.5 million barrels in August 2021, the U.S. Energy Information Administration reported yesterday. This August’s output was also 12% less than in August of 2020 and was 21% less than in July this year.

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Year to date through August, U.S. base oil production decreased 3% to 39.1 million barrels, compared to 40.3 million barrels for the same period last year.

Paraffinic base oil production fell 27% to 3.4 million barrels in August, from 4.6 million barrels and was also down 13% from 3.9 million barrels in August 2020. This was the lowest monthly paraffinic production volume since 2.8 million barrels in February 2021. August’s production was also down 13% from 3.9 million barrels in August 2020.

Through the first eight months of this year, U.S. paraffinic base oil production was down 3% at 33 million barrels.

Naphthenic base oil production declined 24% to 690,000 barrels in August, compared to 909,000 barrels in August 2021, and was down sequentially by 8% from 749,000 barrels in July. August’s naphthenic production volume was the lowest for a month since 665,000 barrels in December 2021.

This year through August, naphthenic base oil production decreased 4% to 6.2 million barrels.

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