Brazil’s base oil production plummeted 51%, and the country’s base oil imports volume fell 23% in September, according to government agency data released yesterday.
Base oil production in the South American country dropped to 22,000 tons in September compared to 46,000 tons in the same month last year, the National Agency of Petroleum, Natural Gas and Biofuels reported. The month’s base oil production was the lowest for a month this year.
Year to date Brazil’s base oil production decreased 2% to 367,000 tons.
The volume of base oil imported into Brazil slid to 49,000 tons in September, compared to 64,000 tons a year earlier. It was the lowest export volume for a month this year, lower than 51,000 tons in February.
The majority of Brazil’s base oil imports – primarily API Group II – originates from producers in the United States.
The country’s base oil exports dwindled 36% to 6,000 tons, down from 9,000 tons.