Total US base oils output fell to a two-year low in February amid overlapping paraffinic and naphthenic plant maintenance work.Total output of paraffinic and naphthenic base oils combined fell to 4.00mn bl (562,800t) in February, down from 4.88mn bl the previous month, according to the EIA.The volume was the lowest since February 2021, when a blast of unusually cold weather forced the shutdown of a swathe of refining capacity in the US Gulf coast region.The drop in supply compounded a surge in US base oils prices at that time.The reaction this time was different, with slack demand and heathy overseas supplies keeping prices under downward pressure..US’ Feb paraffinic base oils output falls
Total US base oils output fell to a two-year low in February amid overlapping paraffinic and naphthenic plant maintenance work.Total output of paraffinic and naphthenic base oils combined fell to 4.00mn bl (562,800t) in February, down from 4.88mn bl the previous month, according to the EIA.The volume was the lowest since February 2021, when a blast of unusually cold weather forced the shutdown of a swathe of refining capacity in the US Gulf coast region.The drop in supply compounded a surge in US base oils prices at that time.The reaction this time was different, with slack demand and heathy overseas supplies keeping prices under downward pressure..US’ Feb paraffinic base oils output falls