Brazil’s base oil production increased 16% in December 2022 but was down 7% for the full year, while base oil import volume doubled in December but declined more than 20% for the full year, according to data released by a government agency.
Brazil’s base oil production reached 50,000 metric tons in December, compared to 43,000 tons in the same month in 2021. That was the second-highest production for a month last year – behind August’s 53,000 tons – and it marked the third straight month of production volume reaching 46,000 tons or more. The lowest production of 24,000 tons occurred in June, and the August volume was the highest recorded in 2022.
For full-year 2022, base oil production in the South American country decreased to 523,000 tons, compared to 549,000 tons.
In December, the country’s 58,000 tons in base oil exports were up 100% from 29,000 tons in December 2021, which was the lowest export volume for a month that year. Despite the hefty year-on-year increase, the December 2022 volume represented the second straight month that exports declined, following a peak for last year of 97,000 tons in October. The lowest volume, 44,000 tons, was recorded last February.
Brazil’s base oil exports for the full year fell 23% to 770,000 tons, compared to 997,000 tons in 2021.
Base oil exports were down 28% in December at 6,500 tons, compared to 9,000 tons.