Brazil’s base oil production tumbled down by 56% to its lowest point this year, while its lubricants import volume was up 18% in October, reaching its highest total since March 2021.
Base oil production in the South American country fell to 21,000 tons, down from 47,000 tons in the same month last year. It was the lowest mark this year, with the second lowest, 23,000 tons, occuring in September. Prior to that, the last time lubricant production was in that range was June 2022, at 24,000 tons.
Year-to-date through October, Brazil’s base oil production edged up 3% to 388,000 tons, compared to 375,000 tons.
The country imported 114,000 tons of base oil in October, compared to 97,000 tons. That’s the highest base oil import volume for a month this year, ahead of 90,000 tons in August. It was also Brazil’s highest base oil import volume since 135,000 tons in March 2021. The highest such volume that year was 138,000 tons in February.
Most of Brazil’s base oil imports – primarily API Group II – come from producers in the United States.
Base exports from Brazil dropped 17% to 7,000 tons.