Brazil’s base oils supply exceeded demand in October by the largest amount in a year even with ongoing plant maintenance work that month.Base oils supply, or domestic output and imports combined, came to close to 150,000mᶟ (133,000t) in October, government data showed.The volume rose from 80,400mᶟ the previous month to the highest in since October 2022.Supply rose as a surge in base oils imports outweighed a drop in output caused by scheduled plant maintenance work.Brazil’s demand, or consumption and base oils exports combined, came to close to 110,000mᶟ in October.The volume rose from less than 104,000mᶟ in September to the third-highest level in nineteen months.Demand rose on the back of a sustained rebound in the country’s lube consumption since the second quarter of the year.Higher demand still lagged the rise in supply by more than 40,000mᶟ in October.The surplus was the highest in a year and more than covered for a 24,000mᶟ supply shortfall the previous month..Brazil’s Oct base oils supply rises.Brazil’s Oct lube demand extends rise
Brazil’s base oils supply exceeded demand in October by the largest amount in a year even with ongoing plant maintenance work that month.Base oils supply, or domestic output and imports combined, came to close to 150,000mᶟ (133,000t) in October, government data showed.The volume rose from 80,400mᶟ the previous month to the highest in since October 2022.Supply rose as a surge in base oils imports outweighed a drop in output caused by scheduled plant maintenance work.Brazil’s demand, or consumption and base oils exports combined, came to close to 110,000mᶟ in October.The volume rose from less than 104,000mᶟ in September to the third-highest level in nineteen months.Demand rose on the back of a sustained rebound in the country’s lube consumption since the second quarter of the year.Higher demand still lagged the rise in supply by more than 40,000mᶟ in October.The surplus was the highest in a year and more than covered for a 24,000mᶟ supply shortfall the previous month..Brazil’s Oct base oils supply rises.Brazil’s Oct lube demand extends rise