Brazil’s base oil production fell 35% in March and was down 7% in the first quarter, compared to the same periods last year, according to the latest government data.
Base oil imports were also down for the month, though they posted a slight uptick for the quarter.
The South American country’s base oil production – mainly API Group I – dropped to 29,000 metric tons, compared to 44,000 tons in the same month last year. That was the lowest production for a month since 24,000 tons in June 2022.
In the first quarter, the South American country’s base oil production declined to 119,000 tons, compared to 128,000 tons.
Brazil’s base oil imports declined 13% to 58,000 tons in March, compared to 67,000 tons.
During the first three months of this year, base oil imports into Brazil increased 6% to 166,000 tons, up from 157,000 tons.
Most of the base oil imported by Brazil originates in the United States, and most of it is Group II.
Brazil’s base oil exports decreased 10% to 8,000 tons in March. In the first quarter, the country’s base oil exports fell 17% to 22,000 tons, down from 27,000 tons.