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 hold firm vs feedstock/competing fuel prices, especially in Europe and Asia.</li><li>Firm price differentials point to strong supply-demand fundamentals, incentivize refiners to supply more volumes for those markets.</li><li>Demand would need to hold firm to absorb any such pick-up in supplies.</li></ul>

Global base oils prices mostly hold firm vs feedstock/competing fuel prices, especially in Europe and Asia.Firm price differentials point to strong supply-demand fundamentals, incentivize refiners to supply more volumes for those markets.Demand would need to hold firm to absorb any such pick-up in supplies.

Global base oils margins outlook: Week of 2 June

<ul><li>US domestic Group I SN 500 price rises to premium to Group II N600 price in May 2025 for first time in more than four years.</li><li>In Middle East, CFR UAE Group I SN 500 price discount to Group II N500 shrinks to narrowest in more than seven months.</li><li>In Asia, FOB Asia Group I SN 500 price strengthens vs Group II N500 in May 2025 to firmest level in six months.</li></ul>

US domestic Group I SN 500 price rises to premium to Group II N600 price in May 2025 for first time in more than four years.In Middle East, CFR UAE Group I SN 500 price discount to Group II N500 shrinks to narrowest in more than seven months.In Asia, FOB Asia Group I SN 500 price strengthens vs Group II N500 in May 2025 to firmest level in six months.

Global base oils arb outlook: Week of 2 June

<ul><li>US Group II base oils prices hold in narrow range vs VGO since mid-April 2025.</li><li>Steady price differentials contrast with surge in margins in Q2 2024.</li><li>Steadier margins so far in Q2 2025 coincide with time of year when supply-demand fundamentals are likely to be tighter than usual.</li></ul>

US Group II base oils prices hold in narrow range vs VGO since mid-April 2025.Steady price differentials contrast with surge in margins in Q2 2024.Steadier margins so far in Q2 2025 coincide with time of year when supply-demand fundamentals are likely to be tighter than usual.

Americas/EMEA base oils supply outlook: Week of 2 June

<ul><li>US base oils demand could get support from stock-building ahead of Atlantic hurricane season.</li><li>Slow end-user consumption, expectations of improving availability of supply and of steady-to-lower prices could curb extent of any such stock-building.</li><li>US refiners’ regular exports of surplus shipments to overseas markets could limit volumes available to cover for any unexpected supply disruptions over coming months.</li></ul>

US base oils demand could get support from stock-building ahead of Atlantic hurricane season.Slow end-user consumption, expectations of improving availability of supply and of steady-to-lower prices could curb extent of any such stock-building.US refiners’ regular exports of surplus shipments to overseas markets could limit volumes available to cover for any unexpected supply disruptions over coming months.

Americas/EMEA base oils demand outlook: Week of 2 June

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Thematic (Sector/Industry)

<ul><li>Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: Gearing-up for acquisitions?</li><li>– 1Q25 production was 4,085 boe/d with no horizontal wells drilled in the period.</li><li>RCE is more mature than CN and while no drilling has taken place at RCE, the decline rate between 4Q24 and 1Q25 was only ~5%.</li></ul>

Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: Gearing-up for acquisitions?– 1Q25 production was 4,085 boe/d with no horizontal wells drilled in the period.RCE is more mature than CN and while no drilling has taken place at RCE, the decline rate between 4Q24 and 1Q25 was only ~5%.

France

TotalEnergies SE operates as an energy company. The Company produces, transports, and supplies crude oil, natural gas, and low carbon electricity, as well as refines petrochemical products. TotalEnergies owns and manages gasoline filling stations worldwide.

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TotalEnergies (TTE US)

Global base oils margins outlook: Week of 2 June

Global base oils prices mostly hold firm vs feedstock/competing fuel prices, especially in Europe and Asia. Firm price differentials point to...

Base Oil News

Global base oils arb outlook: Week of 2 June

US domestic Group I SN 500 price rises to premium to Group II N600 price in May 2025 for first time in more than four years. In Middle East, CFR...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 2 June

US Group II base oils prices hold in narrow range vs VGO since mid-April 2025. Steady price differentials contrast with surge in margins in Q2...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 2 June

US base oils demand could get support from stock-building ahead of Atlantic hurricane season. Slow end-user consumption, expectations of improving...

Base Oil News

AUCTUS ON FRIDAY - 30/05/2025

Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: Gearing-up for acquisitions? – 1Q25 production was 4,085 boe/d with no horizontal...

Auctus Advisors

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