Brazil’s base oils output recovered in April from a nine-month low in March as firm base oils prices relative to diesel incentivized refiners to boost output of the lubricant feedstock.
Base oils output of 45,520mᶟ (40,320t) in April rose from 34,700mᶟ the previous month, government data showed.
The volume was closer to typical levels of around 47,900 mᶟ/month over the past year.
Output rose mostly because of a recovery in production at Petrobras’s Reduc refinery to 40,180mᶟ, from less than 30,000mᶟ in March.
Base oils output accounted for 3pc of the Reduc refinery’s total production, up from a 2pc share in March.
Diesel’s share of the refinery’s output fell to 23pc of the total, down from 24pc in March and 26pc in January.
Gasoline’s share of the total fell to 10pc of the total, down from 17pc in March.
Domestic diesel and gasoline prices were mostly at a discount to import-parity prices in March.