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>Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025.</li><li>Europe Group II prices flip to premium to Europe Group III 4cSt (low) prices in Feb 2025 for first time since mid-2021.</li><li>Relative price-strength of Group II base oils points to firm supply-demand fundamentals vs Group I and Group III base oils.</li></ul>

Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025.Europe Group II prices flip to premium to Europe Group III 4cSt (low) prices in Feb 2025 for first time since mid-2021.Relative price-strength of Group II base oils points to firm supply-demand fundamentals vs Group I and Group III base oils.

Global base oils arb outlook: Week of 10 March

<ul><li>Base oils prices extend rise vs feedstock/competing fuel prices in Asia and Europe, pointing to tighter supply-demand fundamentals.</li><li>US base oils premium to VGO/heating oil stays in narrower range, lagging rise in Asia and Europe.</li><li>Dynamic points to diverging fundamentals between US and other regions.</li></ul>

Base oils prices extend rise vs feedstock/competing fuel prices in Asia and Europe, pointing to tighter supply-demand fundamentals.US base oils premium to VGO/heating oil stays in narrower range, lagging rise in Asia and Europe.Dynamic points to diverging fundamentals between US and other regions.

Global base oils margins outlook: Week of 10 March

<ul><li>Asia’s base oils prices extend rise vs feedstock/gasoil prices.</li><li>Rising margins point to increasingly tight supply-demand fundamentals, incentivizing refiners to maximise output.</li><li>Incentive to maximise output coincides with closed arbitrage from Asia to other markets, and signs of steady flows from other regions to Asia.</li></ul>

Asia’s base oils prices extend rise vs feedstock/gasoil prices.Rising margins point to increasingly tight supply-demand fundamentals, incentivizing refiners to maximise output.Incentive to maximise output coincides with closed arbitrage from Asia to other markets, and signs of steady flows from other regions to Asia.

Asia base oils supply outlook: Week of 10 March

<ul><li>Asia’s base oils demand could be steadier, with blenders likely to have already secured supplies required to cover seasonal pick-up in demand over coming weeks.</li><li>Recent moves to replenish stocks added to demand and tightened supply.</li><li>Demand could ease following completion of those moves.</li></ul>

Asia’s base oils demand could be steadier, with blenders likely to have already secured supplies required to cover seasonal pick-up in demand over coming weeks.Recent moves to replenish stocks added to demand and tightened supply.Demand could ease following completion of those moves.

Asia base oils demand outlook: Week of 10 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 28/Feb, US crude inventories increased by 3.6m barrels, contradicting expectations of a 0.6m barrel decline. Meanwhile, gasoline and distillate stockpiles unexpectedly dropped.</li>
<li>US natural gas inventories fell by 80 Bcf for the week ending 28/Feb, lower than analyst expectations of a 96 Bcf drawdown. Inventories are 11.3% below the 5-year seasonal average.</li>
<li>Aramco's 2024 net profit fell 12.4% YoY on lower crude prices and weak margins. The Trump administration gives Chevron 30 days to end Venezuelan oil operations.</li>
</ul>


For the week ending 28/Feb, US crude inventories increased by 3.6m barrels, contradicting expectations of a 0.6m barrel decline. Meanwhile, gasoline and distillate stockpiles unexpectedly dropped.
US natural gas inventories fell by 80 Bcf for the week ending 28/Feb, lower than analyst expectations of a 96 Bcf drawdown. Inventories are 11.3% below the 5-year seasonal average.
Aramco's 2024 net profit fell 12.4% YoY on lower crude prices and weak margins. The Trump administration gives Chevron 30 days to end Venezuelan oil operations.


[ETP 2025/10] WTI Continues to Slide, Henry Hub Rises on Improved Demand Outlook

United Kingdom

BP P.L.C is an energy company. The Company explores and produces oil and natural gas, refines, markets, and supplies petroleum products, as well as generates solar energy, and manufactures and markets chemicals such as terephthalic acid, acetic acid, acrylonitrile, ethylene, and polyethylene. BP serves customers worldwide.

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BP (BP US)

Global base oils arb outlook: Week of 10 March

Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025. Europe Group II prices flip to premium to...

Base Oil News

Global base oils margins outlook: Week of 10 March

Base oils prices extend rise vs feedstock/competing fuel prices in Asia and Europe, pointing to tighter supply-demand fundamentals. US base oils...

Base Oil News

Asia base oils supply outlook: Week of 10 March

Asia’s base oils prices extend rise vs feedstock/gasoil prices. Rising margins point to increasingly tight supply-demand fundamentals,...

Base Oil News

Asia base oils demand outlook: Week of 10 March

Asia’s base oils demand could be steadier, with blenders likely to have already secured supplies required to cover seasonal pick-up in demand over...

Base Oil News

[ETP 2025/10] WTI Continues to Slide, Henry Hub Rises on Improved Demand Outlook

US crude inventories rose, while gasoline and distillate stockpiles fell. Natural gas inventories fell below expectations. Aramco's 2024 profit...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global base oils arb outlook: Week of 10 March

Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025. Europe Group II prices flip to premium to...

Base Oil News

Global base oils margins outlook: Week of 10 March

Base oils prices extend rise vs feedstock/competing fuel prices in Asia and Europe, pointing to tighter supply-demand fundamentals. US base oils...

Base Oil News

Asia base oils supply outlook: Week of 10 March

Asia’s base oils prices extend rise vs feedstock/gasoil prices. Rising margins point to increasingly tight supply-demand fundamentals,...

Base Oil News

Asia base oils demand outlook: Week of 10 March

Asia’s base oils demand could be steadier, with blenders likely to have already secured supplies required to cover seasonal pick-up in demand over...

Base Oil News

[ETP 2025/10] WTI Continues to Slide, Henry Hub Rises on Improved Demand Outlook

​US crude inventories rose, while gasoline and distillate stockpiles fell. Natural gas inventories fell below expectations. Aramco's 2024 profit...

Mint Finance

US crude inventories rose, while gasoline and distillate stockpiles fell. Natural gas inventories fell below expectations. Aramco's 2024 profit...