Brazil’s Oct base oils supply rises

Brazil’s base oils supply rose to a one-year high in October as a surge in imports countered lower domestic production.

Total supply, or output and imports combined, rose to almost 150,000mᶟ (133,000t) in October, government data showed.

The volume rebounded from a three-year low of close to 80,000mᶟ the previous month.

Supply rose as base oils imports climbed to 127,200mᶟ in October. The volume more than doubled from September to a thirty-one month high.

Shipments from the US typically account for more than 70pc of Brazil’s base oils imports.

The rise in imports more than covered for a dip in Brazil’s base oils output in October to a three-year low.

Output fell because of scheduled plant maintenance work.