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.

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Base oils producers, lube blenders and consumers can then better plan accordingly.

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Commodities

<ul><li>Summer seasonality is providing some relief to the tight base oils market, with slower lubricant demand helping offset the loss of Middle East supply and allowing the market to operate with a thinner surplus</li></ul><ul><li>The underlying supply position remains tight, with Middle East disruptions continuing to remove significant volumes and Group III availability still under the greatest pressure.</li><li>Asia's June supply fell faster than lubricant demand, cutting the regional surplus sharply and leaving less spare material to absorb stronger requirements later in the year.</li></ul>

Summer seasonality is providing some relief to the tight base oils market, with slower lubricant demand helping offset the loss of Middle East supply and allowing the market to operate with a thinner surplusThe underlying supply position remains tight, with Middle East disruptions continuing to remove significant volumes and Group III availability still under the greatest pressure.Asia's June supply fell faster than lubricant demand, cutting the regional surplus sharply and leaving less spare material to absorb stronger requirements later in the year.

Base Oils and Lubricants: Weekly Global Market Review - 14 Aug '26

<ul><li>Asia and China accounted for 55% of global supply, maintaining a share above 50% for the ninth straight month despite lower regional output.</li><li>Global demand rose by more than 4% in May, but growth slowed to its weakest pace in 11 months as stock-building eased.</li><li>The global surplus held below year-earlier levels for the eighth time in nine months, with the January-May surplus down by about 35% from the same period in 2025.</li></ul>

Asia and China accounted for 55% of global supply, maintaining a share above 50% for the ninth straight month despite lower regional output.Global demand rose by more than 4% in May, but growth slowed to its weakest pace in 11 months as stock-building eased.The global surplus held below year-earlier levels for the eighth time in nine months, with the January-May surplus down by about 35% from the same period in 2025.

Global Base Oils Supply Falls To 13-Month Low In May

<ul><li>Cargo loadings from Taiwan slowed, after a surge in shipments in late July and early August, with one cargo moving to China in recent days.</li><li>A cargo loaded from South Korea in second-half June  and reached Brazil in recent days, after a stop in South Africa.</li><li>A large cargo loaded from Singapore in the past week before heading to Fujairah, UAE, set to arrive in second-half August; it is the first such shipment to the UAE since March.</li></ul>

Cargo loadings from Taiwan slowed, after a surge in shipments in late July and early August, with one cargo moving to China in recent days.A cargo loaded from South Korea in second-half June  and reached Brazil in recent days, after a stop in South Africa.A large cargo loaded from Singapore in the past week before heading to Fujairah, UAE, set to arrive in second-half August; it is the first such shipment to the UAE since March.

Global Base Oils Cargo Flows: Week To 14 August

<ul><li>Surge in Group II cargo loadings from Taiwan at end-July extended into early August, with a wave of shipments moving mostly to Southeast Asian markets, including the Philippines and Indonesia.</li><li>Cargo loaded from South Korea in early-July before heading to the US Gulf coast, arrived in recent days.</li><li>Singapore took delivery in the past week of its largest cargo from the UAE since last September, despite ongoing disruption to Middle East shipping.</li></ul>

Surge in Group II cargo loadings from Taiwan at end-July extended into early August, with a wave of shipments moving mostly to Southeast Asian markets, including the Philippines and Indonesia.Cargo loaded from South Korea in early-July before heading to the US Gulf coast, arrived in recent days.Singapore took delivery in the past week of its largest cargo from the UAE since last September, despite ongoing disruption to Middle East shipping.

Global Base Oils Cargo Flows: Week To 7 August

<ul><li>Global base oils markets grew more divided by region as Asia's broad supply softened Middle East disruptions, Europe's premium-grade supply drew on non-Middle East routes, though not enough to ease Group III tightness, and the US stayed structurally tighter.</li></ul><ul><li>Asia's broader supply base limited the impact of Middle East Group III disruptions, while the US stayed structurally tighter.</li><li>Singapore's prolonged production constraints kept imports elevated and exports subdued, giving rival Asian suppliers more time to strengthen relationships with buyers traditionally reliant on Singapore.</li></ul>

Global base oils markets grew more divided by region as Asia's broad supply softened Middle East disruptions, Europe's premium-grade supply drew on non-Middle East routes, though not enough to ease Group III tightness, and the US stayed structurally tighter.Asia's broader supply base limited the impact of Middle East Group III disruptions, while the US stayed structurally tighter.Singapore's prolonged production constraints kept imports elevated and exports subdued, giving rival Asian suppliers more time to strengthen relationships with buyers traditionally reliant on Singapore.

Base Oils and Lubricants: Weekly Global Market Review - 07 Aug '26

Japan

Cosmo Energy Holdings Co., Ltd. operates as a holding company.  The Company, through its subsidiaries, imports, refines, and sells crude oil as well engages in the independent development of oil resources.

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Cosmo Energy Holdings (5021 JP)

Base Oils and Lubricants: Weekly Global Market Review - 14 Aug '26

Summer seasonality is providing some relief to the tight base oils market, with slower lubricant demand helping offset the loss of Middle East...

Base Oil News

Global Base Oils Supply Falls To 13-Month Low In May

Asia and China accounted for 55% of global supply, maintaining a share above 50% for the ninth straight month despite lower regional...

Base Oil News

Global Base Oils Cargo Flows: Week To 14 August

Cargo loadings from Taiwan slowed, after a surge in shipments in late July and early August, with one cargo moving to China in recent days. A...

Base Oil News

Global Base Oils Cargo Flows: Week To 7 August

Surge in Group II cargo loadings from Taiwan at end-July extended into early August, with a wave of shipments moving mostly to Southeast Asian...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 07 Aug '26

Global base oils markets grew more divided by region as Asia's broad supply softened Middle East disruptions, Europe's premium-grade supply drew...

Base Oil News

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