U.S. Base Oils Fall in September

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U.S. Base Oils Fall in September

The United States’ base oil production declined 16% in September, and production for the first nine months of the year was down 4%, compared to the same periods last year, a U.S. government agency reported today.

The country’s base oil production fell to 4.6 million barrels in September, down from 5.5 million barrels in the same month last year, according to the U.S. Energy Information Administration. That ended a streak of three straight months of declining production since reaching a year-high of 5.5 million barrels in May.

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Through the first nine months of this year, production decreased to 43.8 million barrels, compared to 45.8 million barrels for the same period last year.

Paraffinic base oil production in September slipped 16% to just shy of 4 million barrels, compared to 4.7 million barrels. This was the second straight month production was below 4 million barrels, after remaining above that mark each month from March through July.

Year-to-date through September, paraffinic production decreased 4% to 36.9 million barrels.

In September, production of naphthenic base oil dropped 18% to 670,000 barrels, compared to 816,000 barrels. This was the fourth consecutive month such production declined, since reaching a 2022 peak of 893,000 barrels in April.

During the first three quarters of this year, naphthenic base oil production decreased 5% to 6.8 million barrels.