U.S. Base Oil Output Fell in 2023


U.S. Base Oil Output Fell in 2023

Base oil production in the United States decreased 6% in 2023, while production in December experienced a 7% uptick in volume, the U.S. Energy Information Administration reported on Feb. 29.

Full-year production of all base oil types fell to 54.5 million barrels, compared to 57.7 million barrels in 2022, the agency said.

U.S. base oil production in December totaled 5 million barrels, up from 4.7 million barrels the same month of 2022. The newer level fell just shy of May’s 5.1 million barrels for the high mark last year, while 3.9 million barrels in March represented the low volume in 2022.

Paraffinic base oil production in the country declined 5% in 2023 to 46 million barrels, compared to 48.5 million barrels.

In December, paraffinic base oil production rose 10% to 4.3 million barrels, the highest such volume for a month last year. The low mark was 3.3 million barrels in March.

Naphthenic base oil production in the U.S. declined 8% in 2023 to 8.5 million barrels, compared to 9.2 million barrels in 2022.

In December, naphthenic base oil production was down 7% at 754,000 barrels. Monthly naphthenic production topped 700,000 barrels six times last year, peaking at 789,000 barrels in April.

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