Global Editor, Base Oil News

Iain Pocock

Global Editor

Global Base Oils and Lubricants Markets

Base Oil News

Base Oil News focuses on the interplay between fundamentals and prices in the global base oils and lubricants markets.

Baseoilnews.com combines daily, weekly and monthly base oils and lubes fundamentals data from every region of the world to build the most comprehensive and up-to-date global picture of the state of the market.

The data and analysis provide key tools to understand current market developments and opportunities and to anticipate how the market is likely to behave in the coming months.

Base oils producers, lube blenders and consumers can then better plan accordingly.

Baseoilnews.com analyses and publishes market news and data every day as it breaks.

Commodities

<ul><li>US base oils prices hold firm vs feedstock/heating oil prices.</li><li>Rising margins in Q2 2025 point to tighter supply-demand fundamentals.</li><li>Cautious demand suggests supply is the key factor driving higher margins.</li></ul>

US base oils prices hold firm vs feedstock/heating oil prices.Rising margins in Q2 2025 point to tighter supply-demand fundamentals.Cautious demand suggests supply is the key factor driving higher margins.

Americas/EMEA base oils supply outlook: Week of 12 May

<ul><li>US base oils demand likely to stay weaker in face of lower feedstock costs, steady prices and expectations of improvement in supply.</li><li>Supply remains sufficient to cover demand even with heavy round of plant maintenance work in recent weeks.</li><li>Lower crude oil prices and signs of slowdown in industrial activity increase incentive to minimize stocks and procure volumes on a need-to basis.</li></ul>

US base oils demand likely to stay weaker in face of lower feedstock costs, steady prices and expectations of improvement in supply.Supply remains sufficient to cover demand even with heavy round of plant maintenance work in recent weeks.Lower crude oil prices and signs of slowdown in industrial activity increase incentive to minimize stocks and procure volumes on a need-to basis.

Americas/EMEA base oils demand outlook: Week of 12 May

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>For the week ending 02/May, U.S. crude inventories fell by 2m barrels (vs. expectations of a 1.7m barrel fall). Gasoline stockpiles unexpectedly rose; distillate inventories fell less than anticipated.</li>
<li>The EIA reported a 104 Bcf storage build, slightly exceeding the 103 Bcf forecast. Storage levels are 1.4% above the five-year average.</li>
<li>Analysts cut price targets on Exxon, Chevron, Shell, Halliburton, and Schlumberger. Occidental exceeded Q1 EPS estimates but narrowly missed revenue forecasts.</li>
</ul>


For the week ending 02/May, U.S. crude inventories fell by 2m barrels (vs. expectations of a 1.7m barrel fall). Gasoline stockpiles unexpectedly rose; distillate inventories fell less than anticipated.
The EIA reported a 104 Bcf storage build, slightly exceeding the 103 Bcf forecast. Storage levels are 1.4% above the five-year average.
Analysts cut price targets on Exxon, Chevron, Shell, Halliburton, and Schlumberger. Occidental exceeded Q1 EPS estimates but narrowly missed revenue forecasts.


[ETP 2025/19] WTI Wavers on Trade Talk Hopes, Henry Hub Pressured by Uncertain Demand Outlook

<ul><li>Global base oils prices extend rise vs feedstock/competing fuel prices.</li><li>Outright prices mostly hold firm or rise even in face of ongoing dip in crude oil/diesel prices.</li><li>Contrasting trends point to stronger base oils fundamentals relative to crude/diesel.</li></ul>

Global base oils prices extend rise vs feedstock/competing fuel prices.Outright prices mostly hold firm or rise even in face of ongoing dip in crude oil/diesel prices.Contrasting trends point to stronger base oils fundamentals relative to crude/diesel.

Global base oils margins outlook: Week of 5 May

<ul><li>Europe Group III base oils price trends higher vs prices in US and Asia over past two months.</li><li>Europe Group III price trends higher vs domestic Group I price and VGO, holds firm vs domestic Group II price.</li><li>Europe’s firmer Group III price differentials could reflect correction following sustained weakness.</li></ul>

Europe Group III base oils price trends higher vs prices in US and Asia over past two months.Europe Group III price trends higher vs domestic Group I price and VGO, holds firm vs domestic Group II price.Europe’s firmer Group III price differentials could reflect correction following sustained weakness.

Global base oils arb outlook: Week of 5 May

United States

Chevron Corporation is an integrated energy company with operations in countries located around the world.  The Company produces and transports crude oil and natural gas.  Chevron also refines, markets, and distributes fuels as well as is involved in chemical operations, mining operations, power generation and energy services.

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Chevron Corp (CVX US)

Americas/EMEA base oils supply outlook: Week of 12 May

US base oils prices hold firm vs feedstock/heating oil prices. Rising margins in Q2 2025 point to tighter supply-demand fundamentals. Cautious...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 12 May

US base oils demand likely to stay weaker in face of lower feedstock costs, steady prices and expectations of improvement in supply. Supply...

Base Oil News

[ETP 2025/19] WTI Wavers on Trade Talk Hopes, Henry Hub Pressured by Uncertain Demand Outlook

US crude inventories fell, gasoline stockpiles rose, and analysts cut price targets on major oil companies while Occidental exceeded Q1 EPS...

Mint Finance

Global base oils margins outlook: Week of 5 May

Global base oils prices extend rise vs feedstock/competing fuel prices. Outright prices mostly hold firm or rise even in face of ongoing dip in...

Base Oil News

Global base oils arb outlook: Week of 5 May

Europe Group III base oils price trends higher vs prices in US and Asia over past two months. Europe Group III price trends higher vs domestic...

Base Oil News

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Americas/EMEA base oils supply outlook: Week of 12 May

US base oils prices hold firm vs feedstock/heating oil prices. Rising margins in Q2 2025 point to tighter supply-demand fundamentals. Cautious...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 12 May

US base oils demand likely to stay weaker in face of lower feedstock costs, steady prices and expectations of improvement in supply. Supply...

Base Oil News

[ETP 2025/19] WTI Wavers on Trade Talk Hopes, Henry Hub Pressured by Uncertain Demand Outlook

​US crude inventories fell, gasoline stockpiles rose, and analysts cut price targets on major oil companies while Occidental exceeded Q1 EPS...

Mint Finance

Global base oils margins outlook: Week of 5 May

Global base oils prices extend rise vs feedstock/competing fuel prices. Outright prices mostly hold firm or rise even in face of ongoing dip in...

Base Oil News

Global base oils arb outlook: Week of 5 May

Europe Group III base oils price trends higher vs prices in US and Asia over past two months. Europe Group III price trends higher vs domestic...

Base Oil News

US crude inventories fell, gasoline stockpiles rose, and analysts cut price targets on major oil companies while Occidental exceeded Q1 EPS...