Base oils supply in the Americas’ market edged down in August because of a drop in output in Latin America.Total output of less than 740,000t in August fell from close to 760,000t the previous month, government data showed.Output rose by 16pc from year-earlier levels and for the first time in seven months.The slowdown cut total supply to 5.65mn t in the first eight months of the year, down 7pc from 6.0mn t during the same period last year.Supply fell in August because of a dip in Brazil’s base oils output. Its output fell even more steeply in September.Argentina’s base oils output also fell steeply in August in the face of slowing lube demand.The drop in total supply lagged a seasonal fall in the Americas’ base oils and lube consumption in August to a five-month low.The surplus of supply over demand rose in response to a thirteen-month high..Brazil’s August base oils output falls.US’ August base oils supply falls
Base oils supply in the Americas’ market edged down in August because of a drop in output in Latin America.Total output of less than 740,000t in August fell from close to 760,000t the previous month, government data showed.Output rose by 16pc from year-earlier levels and for the first time in seven months.The slowdown cut total supply to 5.65mn t in the first eight months of the year, down 7pc from 6.0mn t during the same period last year.Supply fell in August because of a dip in Brazil’s base oils output. Its output fell even more steeply in September.Argentina’s base oils output also fell steeply in August in the face of slowing lube demand.The drop in total supply lagged a seasonal fall in the Americas’ base oils and lube consumption in August to a five-month low.The surplus of supply over demand rose in response to a thirteen-month high..Brazil’s August base oils output falls.US’ August base oils supply falls