Brazil’s lube demand rose for a fourth month in July, maintaining pressure on the country’s tight base oils supply to keep pace at a time of year when overseas availability showed signs of tightening.Lube consumption from the country’s nine largest lube suppliers came to 105,000 cubic meters (93,000 tonnes) in July, up 10% from year-earlier levels, IBP data showed.The suppliers accounted for more than 83% of Brazil’s total lube consumption in 2023.Demand rose on the back of a 15% rise in consumption of passenger-car motor oils and a 5% rise in consumption of industrial oils.ICONIC Lubricants remained the country’s largest lube supplier in July with a share of close to 26% of total consumption. Vibra Energia was the second largest with a share of more than 20% of the total.Brazil’s lube demand rose against the backdrop of signs of increasingly firm economic growth.The country’s economic activity index rose in June for a third month and at its fastest pace in more than a year.Brazil’s automobile sales rose in July for a tenth time in eleven months.Rising lube demand kept pressure on the country’s domestic refiners to maintain high base oils output levels.It also kept pressure on base oils imports remaining high to cover the shortfall between output and demand.Brazil’s reliance on the US for most of its base oils imports, and the US’ tighter supply-balance in recent months, raised the risk of shipment volumes lagging requirements.Expectations of an unusually active Atlantic hurricane season this year added to the risk of lower-than-expected imports if US shipments face weather-related disruptions or delays..US’ June base oils exports to Brazil rise.S Korea’s July exports to Americas rise
Brazil’s lube demand rose for a fourth month in July, maintaining pressure on the country’s tight base oils supply to keep pace at a time of year when overseas availability showed signs of tightening.Lube consumption from the country’s nine largest lube suppliers came to 105,000 cubic meters (93,000 tonnes) in July, up 10% from year-earlier levels, IBP data showed.The suppliers accounted for more than 83% of Brazil’s total lube consumption in 2023.Demand rose on the back of a 15% rise in consumption of passenger-car motor oils and a 5% rise in consumption of industrial oils.ICONIC Lubricants remained the country’s largest lube supplier in July with a share of close to 26% of total consumption. Vibra Energia was the second largest with a share of more than 20% of the total.Brazil’s lube demand rose against the backdrop of signs of increasingly firm economic growth.The country’s economic activity index rose in June for a third month and at its fastest pace in more than a year.Brazil’s automobile sales rose in July for a tenth time in eleven months.Rising lube demand kept pressure on the country’s domestic refiners to maintain high base oils output levels.It also kept pressure on base oils imports remaining high to cover the shortfall between output and demand.Brazil’s reliance on the US for most of its base oils imports, and the US’ tighter supply-balance in recent months, raised the risk of shipment volumes lagging requirements.Expectations of an unusually active Atlantic hurricane season this year added to the risk of lower-than-expected imports if US shipments face weather-related disruptions or delays..US’ June base oils exports to Brazil rise.S Korea’s July exports to Americas rise
