Argentina’s base oils supply fell to a ten-month low in May amid a simultaneous dip in domestic production and imports.Base oils output of 6,050mᶟ (5,360t) in May fell from 9,030mᶟ in April and from more than 10,500mᶟ the same month a year earlier, government data showed.A surge in base oils imports over the past year covered for a drop in the country’s base oils output during that time.But imports also fell in May, dipping to a fourteen-month low of 3,240mᶟ.The volume was down from typical levels of more than 8,500 mᶟ/month in the first four months of the year and almost 12,000 mᶟ/month in 2022.The US accounted for almost all of Argentina’s base oils imports in May for a second month amid a pause in arbitrage flows from other regions..Brazil’s May lube demand rises.Contact us for more information about the data for these stories.Base Oil News stories and analysis also available on ICIS platform
