Base oil production and base oil imports volumes in Brazil were again higher in February compared to totals in the same month last year, according to the latest government data.
The South American country’s base oil production – primarily API Group I – rose 7% to 42,000 metric tons in February, compared to the same month last year, the National Agency of Petroleum, Natural Gas and Biofuels showed in data reported on March 31. February’s volume was the lowest base oil production volume for Brazil since 37,000 tons in July last year.
Through this year’s first two months, the country’s base oil production reached 90,000 tons, a 7% increase from 84,000 tons in the same period last year.
Base oil imports into Brazil increased 15% to 51,000 tons in February, rising from 44,000 tons. That was the lowest base oil imports volume for the country since April 2022, when it was at the 50,000-ton mark.
Most of Brazil’s base oil imports – mostly Group II – comes from the United States.
The country’s base oil exports declined 7% to 6,000 tons in February.