US Group I base oil prices declining

02 November 2012 16:28  [Source: ICIS news]

HOUSTON (ICIS)--US Group I base oil prices are heading down in November, as buyers confirmed on a price decrease announcement by ExxonMobil at the sidelines of the American Fuel & Petrochemical Manufacturers (AFPM) International Lubricants & Waxes meeting on Friday.

According to buyers and sellers, ExxonMobil announced it will reduce all its grades of Group I base oils by 21 cents/gallon, effective 1 November.

At least one other producer confirmed it is following the price move at the same level, but will have an effective date of 6 November.

Other Group I base oil producers are considering following the price decrease, but no further announcements were yet confirmed.

Light viscosity Group I 100 grade base oils were priced at $3.91/gal in October posted prices.

Following the November decrease, the posted price will be $3.70/gal, basis US Gulf.

The AFPM conference ends on Friday.

 

 

 

 


By: Judith Taylor
+1 713 525 2653



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