US March paraffinic base oil output falls

US March paraffinic base oil output falls

US paraffinic base oils output fell to a twenty-five month low in March amid ongoing plant maintenance work throughout the month.

Output of 3.28mn bl (461,550t) in March fell from 3.42mn bl in February, according to the EIA.

The volume was the lowest since February 2021, when an arctic storm forced the shutdown of a swathe of refining capacity in the US Gulf coast region.

Output of 10.86mn bl in the first three months of the year fell from 12.22mn bl during the same period last year to the lowest level since early 2013.

US base oils prices rose in early 2022 as strong demand outpaced higher output.

US base oils prices fell so far in 2023 as weak demand more than countered the drop in output.

Output of 804,000bl in March in the Louisiana Gulf coast district fell from 816,000bl the previous month to the lowest since 2017.

Output in the region averaged more than 1.50mn bl/month in 2022.

Output fell in February and March because of scheduled plant maintenance work.

Total US base oils output of 3.94mn bl in March was also the lowest since February 2021.

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