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 demand likely to stay muted as concern about end-user consumption and signs of sufficient supply incentivize buyers to maintain low stocks.</li><li>Expectations of steady or lower base oils prices add to attraction of holding back.</li><li>US refiner’s posted-price cut last week was first such adjustment in more than six months.</li></ul>

US base oils demand likely to stay muted as concern about end-user consumption and signs of sufficient supply incentivize buyers to maintain low stocks.Expectations of steady or lower base oils prices add to attraction of holding back.US refiner’s posted-price cut last week was first such adjustment in more than six months.

Americas/EMEA base oils demand outlook: Week of 19 May

<ul><li>Asia’s heavy-grade base oils prices hold firm versus feedstock/gasoil prices.</li><li>Asia’s Group II light-grade prices slip vs feedstock/gasoil prices faster than heavy grades and faster than Group I light grades.</li><li>Supply-demand fundamentals likely to improve for light and heavy grades in coming weeks as plant maintenance draws to a close and demand slows.</li></ul>

Asia’s heavy-grade base oils prices hold firm versus feedstock/gasoil prices.Asia’s Group II light-grade prices slip vs feedstock/gasoil prices faster than heavy grades and faster than Group I light grades.Supply-demand fundamentals likely to improve for light and heavy grades in coming weeks as plant maintenance draws to a close and demand slows.

Asia base oils supply outlook: Week of 19 May

<ul><li>Asia’s base oils demand could see earlier-than-usual seasonal slowdown in face of weak lube consumption and improving supply.</li><li>Asia’s lube demand falls at end-Q1 2025 from year-earlier levels.</li><li>Demand weakness shows signs of extending into Q2 2025 as uncertainty about US tariffs compounds signs of slowing economic growth.</li></ul>

Asia’s base oils demand could see earlier-than-usual seasonal slowdown in face of weak lube consumption and improving supply.Asia’s lube demand falls at end-Q1 2025 from year-earlier levels.Demand weakness shows signs of extending into Q2 2025 as uncertainty about US tariffs compounds signs of slowing economic growth.

Asia base oils demand outlook: Week of 19 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 09/May, U.S. crude inventories grew by 3.5m barrels (vs. expectations of a 2m barrel fall). Meanwhile, gasoline and distillate stockpiles unexpectedly fell.</li>
<li>The EIA reported a 110 Bcf storage build, slightly lower than the 111 Bcf forecast. Storage levels are 2.6% above the five-year average.</li>
<li>Saudi Aramco's Q1 profit fell 4.8% YoY but beat estimates by 2.8%. Morgan Stanley downgraded BP to Underweight from Equalweight, while HSBC lowered Chevron to Hold from Buy.</li>
</ul>


For the week ending 09/May, U.S. crude inventories grew by 3.5m barrels (vs. expectations of a 2m barrel fall). Meanwhile, gasoline and distillate stockpiles unexpectedly fell.
The EIA reported a 110 Bcf storage build, slightly lower than the 111 Bcf forecast. Storage levels are 2.6% above the five-year average.
Saudi Aramco's Q1 profit fell 4.8% YoY but beat estimates by 2.8%. Morgan Stanley downgraded BP to Underweight from Equalweight, while HSBC lowered Chevron to Hold from Buy.


[ETP 2025/20] WTI Skittish on Trade Hopes and Oversupply Fears; Henry Hub Falls on Tepid Demand

<ul><li>Global base oils prices mostly extend rise vs feedstock/competing fuel prices.</li><li>Sustained price-strength for most grades points to tight supply-demand fundamentals.</li><li>Price-strength incentivizes refiners to maintain or raise output.</li></ul>

Global base oils prices mostly extend rise vs feedstock/competing fuel prices.Sustained price-strength for most grades points to tight supply-demand fundamentals.Price-strength incentivizes refiners to maintain or raise output.

Global base oils margins outlook: Week of 12 May

United Kingdom

BP plc is an oil and petrochemicals company.  The Company explores for and produces oil and natural gas, refines, markets, and supplies petroleum products, generates solar energy, and manufactures and markets chemicals.  BP's chemicals include terephthalic acid, acetic acid, acrylonitrile, ethylene and polyethylene.

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BP PLC (BP/ LN)

Americas/EMEA base oils demand outlook: Week of 19 May

US base oils demand likely to stay muted as concern about end-user consumption and signs of sufficient supply incentivize buyers to maintain low...

Base Oil News

Asia base oils supply outlook: Week of 19 May

Asia’s heavy-grade base oils prices hold firm versus feedstock/gasoil prices. Asia’s Group II light-grade prices slip vs feedstock/gasoil prices...

Base Oil News

Asia base oils demand outlook: Week of 19 May

Asia’s base oils demand could see earlier-than-usual seasonal slowdown in face of weak lube consumption and improving supply. Asia’s lube demand...

Base Oil News

[ETP 2025/20] WTI Skittish on Trade Hopes and Oversupply Fears; Henry Hub Falls on Tepid Demand

US crude inventories rose, gasoline and distillate stockpiles fell. US nat-gas storage build missed estimates. Aramco's Q1 profit dropped but beat...

Mint Finance

Global base oils margins outlook: Week of 12 May

Global base oils prices mostly extend rise vs feedstock/competing fuel prices. Sustained price-strength for most grades points to tight...

Base Oil News

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Americas/EMEA base oils demand outlook: Week of 19 May

US base oils demand likely to stay muted as concern about end-user consumption and signs of sufficient supply incentivize buyers to maintain low...

Base Oil News

Asia base oils supply outlook: Week of 19 May

Asia’s heavy-grade base oils prices hold firm versus feedstock/gasoil prices. Asia’s Group II light-grade prices slip vs feedstock/gasoil prices...

Base Oil News

Asia base oils demand outlook: Week of 19 May

Asia’s base oils demand could see earlier-than-usual seasonal slowdown in face of weak lube consumption and improving supply. Asia’s lube demand...

Base Oil News

[ETP 2025/20] WTI Skittish on Trade Hopes and Oversupply Fears; Henry Hub Falls on Tepid Demand

​US crude inventories rose, gasoline and distillate stockpiles fell. US nat-gas storage build missed estimates. Aramco's Q1 profit dropped but beat...

Mint Finance

Global base oils margins outlook: Week of 12 May

Global base oils prices mostly extend rise vs feedstock/competing fuel prices. Sustained price-strength for most grades points to tight...

Base Oil News

US crude inventories rose, gasoline and distillate stockpiles fell. US nat-gas storage build missed estimates. Aramco's Q1 profit dropped but beat...