Colombia’s Dec base oil imports rise

Colombia’s base oil imports extended their rise in December, boosting deliveries for the year back to the same levels as in 2019.

Base oil imports of 12,520 m³ (11,090t) in December rose for a sixth month in seven, climbing by 29pc from 9,680m³ the same time a year ago, customs data showed.

The volume fell from 17,780m³ in November. The slowdown in December from the previous month has repeated itself in each of the last three years.

The rise in supplies boosted Colombia’s total imports to more than 172,000m³ in 2021. The volume was up by 9pc from less than 160,000m³ in 2020 and similar to import levels in 2019.

The rebound in imports in 2021 from the previous year repeated a similar pattern among other countries in South America.

But the pace of the rise in Colombia’s base oil imports lagged the rise in shipments to other countries like Argentina, Chile and Peru.

Demand for lubricants rose throughout the region in 2021 as economies recovered following Covid-19 lockdown measures the previous year.

Colombia’s automobile sales began to recover from March 2021, although they have slipped in two of the last three months to February. The country’s industrial production rose in January for a 12^th straight month.