This week ushered in the annual NPRA International Lubricants and Waxes meeting in Houston. With many base oils participants traveling for the event and other industry-related activities, the marketplace was left somewhat hushed.
The main issue now grabbing the attention of market players is that high crude values — still hovering around the $80 per barrel mark — have led to no price announcements by any major producers. Earlier this month, Valero and Calumet raised their paraffinic postings by 25 cents to 30 cents per gallon, but market watchers are mystified that the likes of ExxonMobil, Motiva, Chevron, ConocoPhillips and Flint Hills have not issued any price moves. The last complete round of hikes by all paraffinic producers was initiated in early July.