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>Global base oils prices mostly weaken vs higher feedstock/competing fuel prices.</li><li>Lower prices of light-grade base oils relative to heavy-neutrals leave those supplies more exposed to impact of higher feedstock costs at a time when demand faces seasonal rise.</li><li>FOB Asia base oils prices fall vs Singapore gasoil.</li></ul>

Global base oils prices mostly weaken vs higher feedstock/competing fuel prices.Lower prices of light-grade base oils relative to heavy-neutrals leave those supplies more exposed to impact of higher feedstock costs at a time when demand faces seasonal rise.FOB Asia base oils prices fall vs Singapore gasoil.

Global base oils margins outlook: Week of 24 March

<ul><li>Europe’s Group II base oils prices rise vs prices in US and Asia in March 2025.</li><li>Europe’s Group I brightstock price rises vs prices in US and Asia in March 2025.</li><li>Outperformance of Europe base oils prices vs prices in US and Asia points to firmer supply-demand fundamentals in Europe than in those other markets.</li></ul>

Europe’s Group II base oils prices rise vs prices in US and Asia in March 2025.Europe’s Group I brightstock price rises vs prices in US and Asia in March 2025.Outperformance of Europe base oils prices vs prices in US and Asia points to firmer supply-demand fundamentals in Europe than in those other markets.

Global base oils arb outlook: Week of 24 March

<ul><li>US base oils prices hold steady versus feedstock/competing fuel prices.</li><li>Base oils margins hold in narrow range even as wave of plant maintenance work in North America coincides with seasonal rise in demand.</li><li>Any tightening of supply fundamentals would typically first impact spot shipments for export markets.</li></ul>

US base oils prices hold steady versus feedstock/competing fuel prices.Base oils margins hold in narrow range even as wave of plant maintenance work in North America coincides with seasonal rise in demand.Any tightening of supply fundamentals would typically first impact spot shipments for export markets.

Americas/EMEA base oils supply outlook: Week of 24 March

<ul><li>US base oils demand likely to get support from seasonal pick-up in requirements that coincides with round of plant maintenance work.</li><li>Mostly-steady outright base oils prices so far this year contrast with higher prices in other markets.</li><li>Steady export base oils values vs VGO so far this year contrast with slump, then surge in base oils values from H2 March 2024.</li></ul>

US base oils demand likely to get support from seasonal pick-up in requirements that coincides with round of plant maintenance work.Mostly-steady outright base oils prices so far this year contrast with higher prices in other markets.Steady export base oils values vs VGO so far this year contrast with slump, then surge in base oils values from H2 March 2024.

Americas/EMEA base oils demand outlook: Week of 24 March

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 14/Mar, U.S. crude inventories rose 1.7m barrels (vs. expectations of 0.8m build), gasoline stockpiles fell below expectations, and distillate inventories declined more than anticipated.</li>
<li>US natural gas inventories rose by 9 Bcf for the week ending 14/Mar, more than analyst expectations of a 3 Bcf build. Inventories are 10% below the 5-year seasonal average.</li>
<li>Barclays cut Exxon's price target to USD 135 from USD 137 with an Overweight rating, while Citigroup lowered Occidental's target to USD 51 from USD 56 with a Neutral rating.</li>
</ul>


For the week ending 14/Mar, U.S. crude inventories rose 1.7m barrels (vs. expectations of 0.8m build), gasoline stockpiles fell below expectations, and distillate inventories declined more than anticipated.
US natural gas inventories rose by 9 Bcf for the week ending 14/Mar, more than analyst expectations of a 3 Bcf build. Inventories are 10% below the 5-year seasonal average.
Barclays cut Exxon's price target to USD 135 from USD 137 with an Overweight rating, while Citigroup lowered Occidental's target to USD 51 from USD 56 with a Neutral rating.


[ETP 2025/12] WTI Gains on Geopolitical Uncertainty, Henry Hub Falls on Rising Nat-Gas Stockpiles

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)

Global base oils margins outlook: Week of 24 March

Global base oils prices mostly weaken vs higher feedstock/competing fuel prices. Lower prices of light-grade base oils relative to heavy-neutrals...

Base Oil News

Global base oils arb outlook: Week of 24 March

Europe’s Group II base oils prices rise vs prices in US and Asia in March 2025. Europe’s Group I brightstock price rises vs prices in US and Asia...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 24 March

US base oils prices hold steady versus feedstock/competing fuel prices. Base oils margins hold in narrow range even as wave of plant maintenance...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 24 March

US base oils demand likely to get support from seasonal pick-up in requirements that coincides with round of plant maintenance work. Mostly-steady...

Base Oil News

[ETP 2025/12] WTI Gains on Geopolitical Uncertainty, Henry Hub Falls on Rising Nat-Gas Stockpiles

US crude inventories rose more than expected, gasoline stockpiles fell short, and natural gas inventories exceeded analyst predictions. Barclays...

Mint Finance

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52-week Range

Market Cap (USDm)

P/E

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Global base oils margins outlook: Week of 24 March

Global base oils prices mostly weaken vs higher feedstock/competing fuel prices. Lower prices of light-grade base oils relative to heavy-neutrals...

Base Oil News

Global base oils arb outlook: Week of 24 March

Europe’s Group II base oils prices rise vs prices in US and Asia in March 2025. Europe’s Group I brightstock price rises vs prices in US and Asia...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 24 March

US base oils prices hold steady versus feedstock/competing fuel prices. Base oils margins hold in narrow range even as wave of plant maintenance...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 24 March

US base oils demand likely to get support from seasonal pick-up in requirements that coincides with round of plant maintenance work. Mostly-steady...

Base Oil News

[ETP 2025/12] WTI Gains on Geopolitical Uncertainty, Henry Hub Falls on Rising Nat-Gas Stockpiles

​US crude inventories rose more than expected, gasoline stockpiles fell short, and natural gas inventories exceeded analyst predictions. Barclays...

Mint Finance

US crude inventories rose more than expected, gasoline stockpiles fell short, and natural gas inventories exceeded analyst predictions. Barclays...