Russia’s production of motor oils jumped 20% through the first 11 months of 2021, while production of industrial lubricating oils fell 17%, according to a report by Moscow consulting firm B2X.
Output of automotive engine oils from January through November was 542,000 metric tons, B2X said, citing government statistics, while 564,000 tons of industrial oils were produced. In releasing its report, the firm focused on the improvement in the motor oil category, saying an increase was expected since the COVID-19 pandemic made the market sluggish in 2020.
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“Overall, production growth rates are cooling down, but if compared to last year, we observe positive market dynamics,” said Ivan Yakovlev, B2X’s senior analyst.
Volumes for some categories of products increased, and others decreased. Russia produced 73,000 tons of transmission oils during the period, a 31% increase from the same period of 2020, and 181,000 tons of hydraulic oil, an 11% increase. Compressor oil production increased 13% to 32,000 tons.
In contrast, output of turbine oils fell 3% to 25,000 tons.
“The finished lubricant production in Russia is getting a grip, and we expect better results for whole [year] 2021 over 2020, notwithstanding the low production levels of turbine oils in the spring, and industrial oils in the first half of 2021,” Yakovlev said.