U.S. Base Oil Production Fell in March


U.S. Base Oil Production Fell in March

Base oil production in the United States fell 29% in March to its lowest mark since February 2021, according to data released today by the U.S. Energy Information Administration.

The countries refiners made 3.9 million barrels of mineral base stocks in March, compared to 5.1 million barrels during the same month of 2022. The latest total was the lowest production for a month since 3.4 million barrels in February 2021.

For at least the past decade, March volume represented the year’s nadir in U.S. base oil output, keeping mostly to the range of 4.4 million to 5.2 million barrels. A peak beyond that, 5.9 million barrels, occurred in March 2018. The low point of 4.4 million barrels was recorded in March in three years – 2013, 2019 and 2020.

During the first quarter this year, the country’s base oil production declined 11% to 12.8 million barrels.

Paraffinic base oil production declined 26% to 3.3 million barrels in March, down from 4.4 million barrels. That was the lowest U.S. paraffinic production for a month since 2.8 million barrels in February 2021.

Naphthenic base oil production in the U.S. was down 5% to 664,000 barrels in March. Sequentially, that was a 6% uptick from 580,000 barrels in February, which had the lowest naphthenic volume since 546,000 barrels in February 2021.

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