US base oils supply fell in January as naphthenic base oils production dipped to the lowest in almost four years.Paraffinic base oils output also fell but still held at its second-highest level in five months.The firm paraffinic base oils output levels left refiners with a swathe of surplus supplies to clear through export markets through the rest of the first quarter of the year.Paraffinic base oils output held relatively firm in January even as US refinery run-rates fell to their lowest since the first quarter of 2021.An arctic storm at that time forced the shutdown of a swathe of US refining capacity.US base oils output slumped by more than 1.70 million barrels in February 2021 from the previous month in response to the sharp drop in refinery run-rates.Freezing weather in January this year was similarly a key factor behind a sharp fall in US refinery run-rates.The country's base oils output of 4.50 million barrels (634,000 tonnes) in January this year fell by little more than 500,000 barrels from the previous month, even with the drop in refinery run-rates.Naphthenic base oils output fell more steeply, reflecting the impact of scheduled maintenance work.Output of 535,000 barrels in January fell from more than 750,000 barrels the previous month to the lowest since March 2020, government data showed.Output fell because of a slump in production in Louisiana in the US Gulf coast district.The drop in output coincided with scheduled maintenance work in January at a naphthenic base oils unit in Princeton, Louisiana.US paraffinic base oils output fell back below 4mn bl in January, mostly because of a dip in output in the US West coast district.Paraffinic base oils output in the US Gulf coast region was steadier, even with a 10 percentage-point slump in the region’s refinery run-rates in January from the previous month. Output held steady in January even with US base oils prices extending their slide to increasingly weak levels relative to feedstock and diesel prices and relative to base oils prices in overseas markets.Firm US base oils imports added to supply.Imports of 1.35 million barrels in January fell from December but were still the second highest in six months.The drop in output and imports cut total supply to 5.85 million barrels in January, down from a seven-month high of more than 6.50 million barrels the previous month..US’ Dec base oils/lube supply rises
US base oils supply fell in January as naphthenic base oils production dipped to the lowest in almost four years.Paraffinic base oils output also fell but still held at its second-highest level in five months.The firm paraffinic base oils output levels left refiners with a swathe of surplus supplies to clear through export markets through the rest of the first quarter of the year.Paraffinic base oils output held relatively firm in January even as US refinery run-rates fell to their lowest since the first quarter of 2021.An arctic storm at that time forced the shutdown of a swathe of US refining capacity.US base oils output slumped by more than 1.70 million barrels in February 2021 from the previous month in response to the sharp drop in refinery run-rates.Freezing weather in January this year was similarly a key factor behind a sharp fall in US refinery run-rates.The country's base oils output of 4.50 million barrels (634,000 tonnes) in January this year fell by little more than 500,000 barrels from the previous month, even with the drop in refinery run-rates.Naphthenic base oils output fell more steeply, reflecting the impact of scheduled maintenance work.Output of 535,000 barrels in January fell from more than 750,000 barrels the previous month to the lowest since March 2020, government data showed.Output fell because of a slump in production in Louisiana in the US Gulf coast district.The drop in output coincided with scheduled maintenance work in January at a naphthenic base oils unit in Princeton, Louisiana.US paraffinic base oils output fell back below 4mn bl in January, mostly because of a dip in output in the US West coast district.Paraffinic base oils output in the US Gulf coast region was steadier, even with a 10 percentage-point slump in the region’s refinery run-rates in January from the previous month. Output held steady in January even with US base oils prices extending their slide to increasingly weak levels relative to feedstock and diesel prices and relative to base oils prices in overseas markets.Firm US base oils imports added to supply.Imports of 1.35 million barrels in January fell from December but were still the second highest in six months.The drop in output and imports cut total supply to 5.85 million barrels in January, down from a seven-month high of more than 6.50 million barrels the previous month..US’ Dec base oils/lube supply rises
