News of posted price reductions began to filter through the U.S. base oil arena this week. ExxonMobil pulled away from the pack, announcing decreases ranging from 10 cents to 20 cents per gallon. Sources said it was no wonder this action was emerging, given that buyers have been pressuring suppliers to lower postings since early-to-mid August.
Direct customers of ExxonMobil said the producer plans to lower its API Group I postings on Friday, Sept. 16. Solvent neutral 100 will be dropped by 13 cents/gal; 150, 330 and 600 neutrals will go down 10 cents; and bright stock will shed 20 cents/gal.