Chevron announced it will lower prices, effective today, on two of its Group II base oil offerings – by 15 cents on 100 visgrade, and 13 cents on 220 visgrade – an industry source told Lube Report.
The price decreasesbring Chevrons Group II prices more in line with historical pricing, includingprice cuts by Gulf Coast base oil suppliers earlier this year.
The U.S. market was otherwise quiet.
In other news, Motiva completed its turnaround this week at its 15,000 barrels per day Group II lube train at its Port Arthur, Texas, plant, a company official confirmed yesterday.
The turnaround began Feb. 25. The company last October began informing customers that it would temporarily close the train, one of three at the Port Arthur plant, in early 2007. The Motiva plants total Group II capacity is 40,300 b/d.
Crude closed at $59.25 per barrel yesterday on the New York Mercantile Exchange, according to Bloomberg. That was $1.15 above the price a week ago.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.