Brazil imported 17% less base oil, and the South American country’s base oil exports declined 14% in June, compared to the volumes in the same month last year, according to government agency data.
The country’s base oil import volume declined to 72,000 metric tons in June, compared to 87,000 tons in June of 2022, the National Agency of Petroleum, Natural Gas and Biofuels reported.
Despite the year-on-year decrease, June’s base oil import volume was the highest number recorded so far this year, ahead of the 58,000 tons imported in both January and March.
During the first six months of this year, Brazil imported 347,000 tons of base oil, a 4% increase from the same period last year.
Most of Brazil’s base oil imports – mainly Group II – originate from producers in the United States.
Brazil exported 7,000 tons in June, down from 8,500 tons. It was the second-lowest base oil export volume this year, ahead of 6,000 tons in February.
Through May, the last month for which ANP released base oil production data, the country had produced 213,000 tons of base oil, a 1% increase from the same period last year.