Brazil’s Base Oil Production Drops

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Brazil’s Base Oil Production Drops

Brazil’s base oil production in October declined by 18%, while base oil imports rose 8%, according to data released by a government agency.

The country’s base oil production decreased to 47,000 metric tons in October, compared to 57,000 tons in the same month last year, the National Agency of Petroleum, Natural Gas and Biofuels reported. That was the second-highest monthly total for this year, trailing only 53,000 tons in August. Brazil’s monthly base oil production was at least 40,000 tons each month except for June’s 24,000 tons and July’s 37,000 tons.

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The country imported 97,000 tons of base oil in October, the highest monthly total this year and 8% higher than October of 2021. The second highest total this year was 87,000 tons in June. Since May, the monthly total has reached at least 64,000 tons each month, except for August, when it was 58,000 tons.

Through October, the country’s base oil production ran 7% behind last year’s pace at 427,000 tons.

Base oil imports for the period from January through October declined 27% to 645,000 tons.

Brazil’s base oil exports dropped 69% to 8,000 tons in October, compared to 26,000 tons in the same month last year.

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