Brazil Base Oil Imports Jump in December


Brazil Base Oil Imports Jump in December

Brazil’s base oil imports volume surged 48% in December, compared to the same month last year, while the full-year 2023 total was up 9% from 2022’s total, a government agency reported.

The National Agency of Petroleum, Natural Gas and Biofuels, ANP, found that Brazil’s base oil imports jumped in December to 86,000 tons, compared to 58,300 tons. That was the third-highest import volume for a month last year, behind 114,400 tons in October and 89,600 tons in August. The lowest import figure was 49,500 tons in September.

For all of 2023, Brazil imported 835,700 tons of base oil, a 9% increase from 763,600 tons in 2022.

Most of the base oil that Brazil imports comes from the United States, and the majority of that is comprised of API Group II. Almost all of the base oil produced domestically is Group I.

Base oil exports declined 3% in December to 6,300 tons. For the full year, the country exported 82,800 tons of base oil, a 20% decrease from 103,600 tons in 2022. The high mark for exports was 8,300 tons in March, while the low mark of 5,700 tons was recorded in September.

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