US blender Pennzoil-Quaker State was the country’s largest base oils importer in 2024 for a second year running as it increased its share of total supplies.Its rising share reflected an increase in its base oils imports volume even as the US’ total imports fell.It also reflected a rise in the US' total base oils imports from the Middle East in 2024. The rise in supplies contrasted with a fall in shipments from Asia.Qatar is a key source of Pennzoil’s base oils supplies from overseas markets.Pennzoil’s share of US base oils imports rose to more than 25% of the total in 2024, government data showed. The share rose from around 23% the previous year and 21% in 2022..US base oils imports of 16.05 million barrels (2.30 million tonnes) in 2024 edged down by 1% from 16.28 million barrels the previous year.Most of the supplies consisted of Group III base oils.SK Enmove Americas was the US’ second-largest base oils importer in 2024 even as its share dipped to less than 16% of the total. The share fell from more than 20% the previous year and from close to 22% in 2022.The lower share coincided with and reflected the impact of a more-than 20% fall in the volume of its base oils imports in 2024 from the previous year.The drop in volumes outpaced the fall in total US imports and reflected the US' lower share of supplies originating from Asia-Pacific markets like South Korea in 2024.Shell US Trading was the US’ third-largest base oils importer in 2024 and Penthol the fourth-largest.The rising of share of both companies' base oils imports similarly highlighted the growing role of the Middle East as the key source of the US' Group III supplies in 2024..US’ December base oils imports fall.Global base oils arb outlook: Week of 10 Feb
