Argentina’s base oil imports fell in February to an 18-month low, balancing out a surge in supplies the previous month.Total imports of 2,320m³ (2,060t) in February fell from more than 14,000m³ the previous month, government data showed. Most of the supplies originated from the US and Malaysia..Even with the sharp fall, total imports of 16,650m³ in the first two months of the year was only slightly lower than imports of around 18,000m³ in the four months combined to last December.The drop in base oil imports coincided with lower domestic base oil production in February. That slowdown had also followed higher-than-usual base oil production levels during the previous two months.Higher production and imports had boosted the country’s total base oil supplies to more than 40,000m³ in December and January combined. The volume was up from less than 32,000m³ in the three months to November combined.The slowdown in February suggested moves to consume some of the larger-than-usual supplies that had built during the previous two months.The drop in imports followed a sustained slide in Argentina’s lubricant production in recent months. But the country’s lube demand rose in February for the first time in three months..Argentina’s Feb lube production falls.Base Oil News stories and analysis also available on ICIS platform
