Brazil imported 62% more base oil in March, compared to the same month last year, according to data released Tuesday by the National Agency of Petroleum, Natural Gas and Biofuels.
ANP reported that Brazil’s imported 94,000 metric tons of base oil in March, up from 58,000 tons in March of 2023.
Those results continued a pattern of big jumps in base oil imports so far this year. For the first quarter the country imported 265,000 tons of base oil, a 60% hike from 166,000 tons in the first three months last year.
Most of Brazil’s base oil imports originate from the United States, and the majority of that consists of API Group II. Almost all of the base oil produced within the country is Group I.
Base oil exports from Brazil in March decreased 4% to 8,600 tons.
In the first quarter, Brazil exported 31,000 tons of base oil, a 38% jump from 22,000 tons.