United States base oil production declined 14% in February, compared to the same month last year, according to data released April 28 by a U.S. government agency. The February total was the lowest monthly level in two years.
February’s output fell just shy of 4 million barrels, the U.S. Energy Information Agency reported. That was down from 4.6 million barrels in the same month of 2022 and was the lowest production for a month since 3.4 million barrels back in February 2021.
February has in recent years tended to be one of the slowest months of the year for base oil production in the U.S. Output for that month was 3.7 million barrels in 2020.
Paraffinic base oil production in the U.S. fell 12% to 3.4 million barrels, the lowest paraffinic mark since last August when it was also 3.4 million barrels.
Paraffinic production this February was higher than the volumes in that month of 2.8 million barrels in 2021 and 2.9 million barrels in 2020.
Naphthenic base oil production fell 20% in February to 580,000 barrels, which was the lowest such production for a month since 546,000 tons in February 2021.