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>Spare base oils supply is thin across major regions, leaving little room to absorb disruption from storms, outages or maintenance</li></ul><ul><li>Asia cleared a swathe of supply in the third quarter, leaving it balanced to tight with less room to cover other markets.</li><li>Singapore’s exports fell for a second week, a slowdown that would further limit Asia’s spare supply if it continues as seasonal demand firms.</li></ul>

Spare base oils supply is thin across major regions, leaving little room to absorb disruption from storms, outages or maintenanceAsia cleared a swathe of supply in the third quarter, leaving it balanced to tight with less room to cover other markets.Singapore’s exports fell for a second week, a slowdown that would further limit Asia’s spare supply if it continues as seasonal demand firms.

Base Oils and Lubricants: Weekly Global Market Review - 9 Oct '26

<ul><li>Base oils shipments from Taiwan extended their slowdown into a second week, coinciding with planned plant maintenance starting in October.</li><li>A cargo with a combination of Group II light and heavy grades loaded from Taiwan in early September for Europe passed through the Red Sea and Suez Canal in recent days.</li><li>A cargo loaded from South Korea in recent days headed to Northwest Europe, with arrival due in second-half November.</li></ul>

Base oils shipments from Taiwan extended their slowdown into a second week, coinciding with planned plant maintenance starting in October.A cargo with a combination of Group II light and heavy grades loaded from Taiwan in early September for Europe passed through the Red Sea and Suez Canal in recent days.A cargo loaded from South Korea in recent days headed to Northwest Europe, with arrival due in second-half November.

Global Base Oils Cargo Flows: Week To 9 October

<ul><li>Base oils supply is tighter than usual for the time of year, as Asian barrels filling overseas gaps face a competing call from recovering demand in their regional markets</li></ul><ul><li>Singapore's export recovery shows how additional barrels are becoming available as earlier disruptions ease.</li><li>That extra Asian supply is now facing a competing call from within the region as demand recovers, while maintenance in Taiwan and Saudi Arabia will remove more production.</li></ul>

Base oils supply is tighter than usual for the time of year, as Asian barrels filling overseas gaps face a competing call from recovering demand in their regional marketsSingapore's export recovery shows how additional barrels are becoming available as earlier disruptions ease.That extra Asian supply is now facing a competing call from within the region as demand recovers, while maintenance in Taiwan and Saudi Arabia will remove more production.

Base Oils and Lubricants: Weekly Global Market Review - 2 Oct '26

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>The latest quarterly report for BP p.l.c. highlights several key developments in its operational, financial, and strategic initiatives during the second quarter of 2026 under the leadership of newly appointed CEO Meg O’Neill.</li><li>The period was marked by a volatile global energy environment, partly influenced by geopolitical disruptions in the Middle East, which affected upstream production and operational consistency.</li><li>On the positive side, BP delivered robust financial results with underlying profit reaching $5.7 billion—a $2.5 billion increase from the prior quarter—and operating cash flow of $10.9 billion, despite a $1 billion working capital build.</li></ul>

The latest quarterly report for BP p.l.c. highlights several key developments in its operational, financial, and strategic initiatives during the second quarter of 2026 under the leadership of newly appointed CEO Meg O’Neill.The period was marked by a volatile global energy environment, partly influenced by geopolitical disruptions in the Middle East, which affected upstream production and operational consistency.On the positive side, BP delivered robust financial results with underlying profit reaching $5.7 billion—a $2.5 billion increase from the prior quarter—and operating cash flow of $10.9 billion, despite a $1 billion working capital build.

BP’s $9 Billion Reset: Can Meg O’Neill Finally Simplify The Energy Giant?

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>BP's Kirkuk partnership reflects a broader capital allocation strategy, reducing redevelopment costs through selective partnerships while preserving exposure to high-quality assets.</li>
<li>Despite improving leverage, BP still trails integrated peers on interest coverage, explaining management's emphasis on debt reduction, disciplined capital allocation and delayed shareholder distributions.</li>
<li>BP is prioritising balance sheet repair over production growth, laying the foundation for stronger shareholder returns once leverage declines and financial flexibility improves.</li>
</ul>


BP's Kirkuk partnership reflects a broader capital allocation strategy, reducing redevelopment costs through selective partnerships while preserving exposure to high-quality assets.
Despite improving leverage, BP still trails integrated peers on interest coverage, explaining management's emphasis on debt reduction, disciplined capital allocation and delayed shareholder distributions.
BP is prioritising balance sheet repair over production growth, laying the foundation for stronger shareholder returns once leverage declines and financial flexibility improves.


BP's Capital Reset: Preserving Growth While Rebuilding the Balance

United Kingdom

BP p.l.c. is a British multinational integrated energy company. It engages in oil and gas exploration, production, refining, distribution, and marketing, as well as renewable energy activities including solar, wind, and hydrogen businesses. The company was founded in 1908 and is headquartered in London, the United Kingdom.

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BP (BP US)

Base Oils and Lubricants: Weekly Global Market Review - 9 Oct '26

Spare base oils supply is thin across major regions, leaving little room to absorb disruption from storms, outages or maintenance Asia...

Base Oil News

Global Base Oils Cargo Flows: Week To 9 October

Base oils shipments from Taiwan extended their slowdown into a second week, coinciding with planned plant maintenance starting in October. A cargo...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 2 Oct '26

Base oils supply is tighter than usual for the time of year, as Asian barrels filling overseas gaps face a competing call from recovering demand...

Base Oil News

BP’s $9 Billion Reset: Can Meg O’Neill Finally Simplify The Energy Giant?

The latest quarterly report for BP p.l.c. highlights several key developments in its operational, financial, and strategic initiatives during the...

Baptista Research

BP's Capital Reset: Preserving Growth While Rebuilding the Balance

BP is strategically partnering in Kirkuk to reduce costs, focusing on debt reduction and strengthening balance sheet for future shareholder returns.

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Base Oils and Lubricants: Weekly Global Market Review - 9 Oct '26

Spare base oils supply is thin across major regions, leaving little room to absorb disruption from storms, outages or maintenance Asia...

Base Oil News

Global Base Oils Cargo Flows: Week To 9 October

Base oils shipments from Taiwan extended their slowdown into a second week, coinciding with planned plant maintenance starting in October. A cargo...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 2 Oct '26

Base oils supply is tighter than usual for the time of year, as Asian barrels filling overseas gaps face a competing call from recovering demand...

Base Oil News

BP’s $9 Billion Reset: Can Meg O’Neill Finally Simplify The Energy Giant?

The latest quarterly report for BP p.l.c. highlights several key developments in its operational, financial, and strategic initiatives during the...

Baptista Research

BP's Capital Reset: Preserving Growth While Rebuilding the Balance

​BP is strategically partnering in Kirkuk to reduce costs, focusing on debt reduction and strengthening balance sheet for future shareholder returns.

Mint Finance

BP is strategically partnering in Kirkuk to reduce costs, focusing on debt reduction and strengthening balance sheet for future shareholder returns.