Base oil production in the United States was flat in October, with a 1% increase in paraffinic production offset by a 9% decline in naphthenic production.
U.S. base oil production totaled 4.4 million barrels in October, unchanged from the same month last year. That’s around middle of the pack for 2023, with monthly production ranging from a low of 3.3 million barrels in March to a peak of 4.3 million barrels in May.
Historically, the country’s base oil production had topped 5 million barrels in October for many years until last October’s 4.4 million barrels. The most previous year with an October total shy of 5 million barrels was 2014, when the month produced 4.9 million barrels.
For the first 10 months of the year, base oil production in the U.S. declined 7% to 45.1 million barrels, compared to 48.3 million barrels.
U.S. paraffinic base oil production increased to 3.71 million barrels in October, compared to 3.65 million barrels.
Naphthenic base oil production in the U.S. declined to 691,000 barrels in October, compared to 755,000 barrels.