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



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index