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 wane amid seasonal slowdown in consumption during summer holidays.</li><li>Steady outright prices and expectations of healthy availability of supply add to attraction of holding back.</li><li>Build-up of additional stocks to cover against weather-related supply disruptions likely to have mostly been completed.</li></ul>

US base oils demand likely to wane amid seasonal slowdown in consumption during summer holidays.Steady outright prices and expectations of healthy availability of supply add to attraction of holding back.Build-up of additional stocks to cover against weather-related supply disruptions likely to have mostly been completed.

Americas/EMEA base oils demand outlook: Week of 21 July

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>Chevron’s arbitration win over ExxonMobil unlocks Guyana’s Stabroek Block, a key asset underpinning its USD 53 billion Hess acquisition.</li>
<li>SLB outperformed Q2 estimates despite YoY declines and also completed its ChampionX acquisition amid regulatory challenges.</li>
<li>WTI crude found support late-week after better-than-expected economic data tempered demand fears, despite early pressure from inventory and macro concerns.</li>
</ul>


Chevron’s arbitration win over ExxonMobil unlocks Guyana’s Stabroek Block, a key asset underpinning its USD 53 billion Hess acquisition.
SLB outperformed Q2 estimates despite YoY declines and also completed its ChampionX acquisition amid regulatory challenges.
WTI crude found support late-week after better-than-expected economic data tempered demand fears, despite early pressure from inventory and macro concerns.


[ETP 2025/29] Chevron Secures Guyana Win as SLB Surprises; WTI Slips, Henry Hub Snaps Losing Streak

<ul><li>Global base oils prices edge lower vs feedstock/competing fuel prices, stay well below recent highs in Q2 2025.</li><li>Lower base oils margins coincide with time of year when supply-demand fundamentals typically weaken.</li><li>Even at lower levels, base oils margins hold at levels that curb incentive for refiners to adjust output.</li></ul>

Global base oils prices edge lower vs feedstock/competing fuel prices, stay well below recent highs in Q2 2025.Lower base oils margins coincide with time of year when supply-demand fundamentals typically weaken.Even at lower levels, base oils margins hold at levels that curb incentive for refiners to adjust output.

Global base oils margins outlook: Week of 14 July

<ul><li>Europe’s Group II base oils prices hold unusually firm versus vacuum gasoil at start of Q3 2025.</li><li>Europe’s Group II base oils price-differentials hold unusually firm vs Group I and Group III base oils at start of Q3 2025.</li><li>Europe’s Group II base oils price-premium to Asia/US prices trends higher from early-Q2 2025.</li></ul>

Europe’s Group II base oils prices hold unusually firm versus vacuum gasoil at start of Q3 2025.Europe’s Group II base oils price-differentials hold unusually firm vs Group I and Group III base oils at start of Q3 2025.Europe’s Group II base oils price-premium to Asia/US prices trends higher from early-Q2 2025.

Global base oils arb outlook: Week of 14 July

<ul><li>US Group II base oils price-premium to heating oil edges lower, stays in narrow range since start of Q2 2025.</li><li>Base oils price-premium stays rangebound even with expected improvement in supply and slowdown in demand in coming weeks.</li><li>US base oils supply could rise more swiftly in coming weeks following completion of plant-maintenance work.</li></ul>

US Group II base oils price-premium to heating oil edges lower, stays in narrow range since start of Q2 2025.Base oils price-premium stays rangebound even with expected improvement in supply and slowdown in demand in coming weeks.US base oils supply could rise more swiftly in coming weeks following completion of plant-maintenance work.

Americas/EMEA base oils supply outlook: Week of 14 July

United States

Exxon Mobil Corporation operates petroleum and petrochemicals businesses on a worldwide basis.  The Company's operations include exploration and production of oil and gas, electric power generation, and coal and minerals operations. Exxon Mobil also manufactures and markets fuels, lubricants, and chemicals.

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Exxon Mobil (XOM US)

Americas/EMEA base oils demand outlook: Week of 21 July

US base oils demand likely to wane amid seasonal slowdown in consumption during summer holidays. Steady outright prices and expectations of...

Base Oil News

[ETP 2025/29] Chevron Secures Guyana Win as SLB Surprises; WTI Slips, Henry Hub Snaps Losing Streak

Chevron's arbitration win over ExxonMobil unlocks key asset in Guyana, Hess acquisition; SLB outperforms Q2 estimates with ChampionX acquisition;...

Mint Finance

Global base oils margins outlook: Week of 14 July

Global base oils prices edge lower vs feedstock/competing fuel prices, stay well below recent highs in Q2 2025. Lower base oils margins coincide...

Base Oil News

Global base oils arb outlook: Week of 14 July

Europe’s Group II base oils prices hold unusually firm versus vacuum gasoil at start of Q3 2025. Europe’s Group II base oils price-differentials...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 14 July

US Group II base oils price-premium to heating oil edges lower, stays in narrow range since start of Q2 2025. Base oils price-premium stays...

Base Oil News

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52-week Range

Market Cap (USDm)

P/E

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Americas/EMEA base oils demand outlook: Week of 21 July

US base oils demand likely to wane amid seasonal slowdown in consumption during summer holidays. Steady outright prices and expectations of...

Base Oil News

[ETP 2025/29] Chevron Secures Guyana Win as SLB Surprises; WTI Slips, Henry Hub Snaps Losing Streak

​Chevron's arbitration win over ExxonMobil unlocks key asset in Guyana, Hess acquisition; SLB outperforms Q2 estimates with ChampionX acquisition;...

Mint Finance

Global base oils margins outlook: Week of 14 July

Global base oils prices edge lower vs feedstock/competing fuel prices, stay well below recent highs in Q2 2025. Lower base oils margins coincide...

Base Oil News

Global base oils arb outlook: Week of 14 July

Europe’s Group II base oils prices hold unusually firm versus vacuum gasoil at start of Q3 2025. Europe’s Group II base oils price-differentials...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 14 July

US Group II base oils price-premium to heating oil edges lower, stays in narrow range since start of Q2 2025. Base oils price-premium stays...

Base Oil News

Chevron's arbitration win over ExxonMobil unlocks key asset in Guyana, Hess acquisition; SLB outperforms Q2 estimates with ChampionX acquisition;...