U.S. Base Oils Hit Two-year Peak

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Base oil production in the United States jumped 23% in March, to attain its highest volume in almost two years, according to data released by the U.S. Energy Information Administration.

In March, the country’s refiners made 5.1 million barrels of base oil, compared to 3.9 million barrels in the same month last year. It was the highest monthly mark since 5.2 million barrels in June 2022.

In the first quarter, U.S. base oil production jumped 13% to 14.5 million barrels, compared to 12.8 million barrels in the same period last year.

Paraffinic production in the country surged 33% to 4.4 million barrels in March, compared to 3.3 million barrels. It was the highest U.S. paraffinic production volume for a month since 4.8 million barrels in May 2022.

First-quarter U.S. paraffinic base oil production rose 15% to 12.4 million barrels, compared to 10.9 million barrels.

The nation’s naphthenic base oil production rose 16% to 773,000 barrels in March, rising from 664,000 barrels. That was the highest such production since 779,000 barrels in September.

For the first quarter, naphthenic production increased 5% to 2.1 million barrels.

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