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 supply held relatively steady at more than 370,000 tonnes, close to where it has stood for most of the past six months.</li><li>Americas supply dipped as plant maintenance in Brazil combined with US output falling to a 14-month low.</li><li>Middle East supply fell to its lowest level in more than seven years, with a slump in Group III shipments outweighing a rise in flows from Saudi Arabia.</li></ul>

Europe's supply held relatively steady at more than 370,000 tonnes, close to where it has stood for most of the past six months.Americas supply dipped as plant maintenance in Brazil combined with US output falling to a 14-month low.Middle East supply fell to its lowest level in more than seven years, with a slump in Group III shipments outweighing a rise in flows from Saudi Arabia.

Global Base Oils Supply Falls To 16-Month Low In June

<ul><li>Middle East disruption is drawing more Asian base oils toward the Americas, reducing the surplus normally available in Asia just as seasonal demand starts to recover</li></ul><ul><li>Middle East disruption is leaving the US short of the Group III volumes it normally receives, tightening its balance at a time when summer surplus would otherwise move to export markets.</li><li>Wide US arbitrage is drawing more Asian base oils toward the Americas, adding to established Group III flows.</li></ul>

Middle East disruption is drawing more Asian base oils toward the Americas, reducing the surplus normally available in Asia just as seasonal demand starts to recoverMiddle East disruption is leaving the US short of the Group III volumes it normally receives, tightening its balance at a time when summer surplus would otherwise move to export markets.Wide US arbitrage is drawing more Asian base oils toward the Americas, adding to established Group III flows.

Base Oils and Lubricants: Weekly Global Market Review - 4 Sept '26

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.

Equity Bottom-Up

<ul>
<li>Exxon heads into Q1 with EPS expected to rise 12.3% QoQ and 9.1% YoY. However, IV is elevated due to uncertainty amid geopolitical tensions and firm oil prices.</li>
<li>Leading up to the earnings, straddles have worked in only 3 of the past 9 quarters, with returns largely dependent on IV holding or expanding rather than price movement alone.</li>
<li>Calendar spreads have been more consistent (6/9 quarters), with returns driven by IV decay, though performance weakens when volatility compresses sharply into earnings.</li>
</ul>


Exxon heads into Q1 with EPS expected to rise 12.3% QoQ and 9.1% YoY. However, IV is elevated due to uncertainty amid geopolitical tensions and firm oil prices.
Leading up to the earnings, straddles have worked in only 3 of the past 9 quarters, with returns largely dependent on IV holding or expanding rather than price movement alone.
Calendar spreads have been more consistent (6/9 quarters), with returns driven by IV decay, though performance weakens when volatility compresses sharply into earnings.


[Pre Earnings Flash] Exxon Sees Healthy Q1 Expectations Amid Elevated Volatility

<ul><li>A large cargo of Group II base oils loaded from Taiwan in late August before heading to South Korea, set to arrive this week.</li><li>Shipments from Taiwan typically move to China, Southeast Asia or India rather than to South Korea.</li><li>Singapore-to-US shipments extended their surge for a second week, even as total Singapore exports declined.</li></ul>

A large cargo of Group II base oils loaded from Taiwan in late August before heading to South Korea, set to arrive this week.Shipments from Taiwan typically move to China, Southeast Asia or India rather than to South Korea.Singapore-to-US shipments extended their surge for a second week, even as total Singapore exports declined.

Global Base Oils Cargo Flows: Week To 4 September

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.

<ul><li>ExxonMobil's recent earnings call highlighted the company's transformation efforts and strategic direction with a focus on technology-driven improvement and sustainability.</li><li>The firm's commitment to delivering strong safety, reliability, and operation discipline is evident in their notable progress in reducing greenhouse gas (GHG) emissions and flaring intensity—key elements of their environmental strategy.</li><li>ExxonMobil surpassed its 2030 targets for GHG emissions reductions by 2025, emphasizing their proactive approach to environmental challenges and alignment with global sustainability trends.</li></ul>

ExxonMobil's recent earnings call highlighted the company's transformation efforts and strategic direction with a focus on technology-driven improvement and sustainability.The firm's commitment to delivering strong safety, reliability, and operation discipline is evident in their notable progress in reducing greenhouse gas (GHG) emissions and flaring intensity—key elements of their environmental strategy.ExxonMobil surpassed its 2030 targets for GHG emissions reductions by 2025, emphasizing their proactive approach to environmental challenges and alignment with global sustainability trends.

ExxonMobil: How AI and ERP Simplification Are Quietly Transforming the Business!

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)

Global Base Oils Supply Falls To 16-Month Low In June

Europe's supply held relatively steady at more than 370,000 tonnes, close to where it has stood for most of the past six months. Americas supply...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 4 Sept '26

Middle East disruption is drawing more Asian base oils toward the Americas, reducing the surplus normally available in Asia just as seasonal...

Base Oil News

[Pre Earnings Flash] Exxon Sees Healthy Q1 Expectations Amid Elevated Volatility

Exxon's Q1 earnings are expected to rise, but uncertainty and firm oil prices elevate IV. Straddles work in 3/9 quarters, while calendar spreads...

Mint Finance

Global Base Oils Cargo Flows: Week To 4 September

A large cargo of Group II base oils loaded from Taiwan in late August before heading to South Korea, set to arrive this week. Shipments from...

Base Oil News

ExxonMobil: How AI and ERP Simplification Are Quietly Transforming the Business!

ExxonMobil's recent earnings call highlighted the company's transformation efforts and strategic direction with a focus on technology-driven...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global Base Oils Supply Falls To 16-Month Low In June

Europe's supply held relatively steady at more than 370,000 tonnes, close to where it has stood for most of the past six months. Americas supply...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 4 Sept '26

Middle East disruption is drawing more Asian base oils toward the Americas, reducing the surplus normally available in Asia just as seasonal...

Base Oil News

[Pre Earnings Flash] Exxon Sees Healthy Q1 Expectations Amid Elevated Volatility

​Exxon's Q1 earnings are expected to rise, but uncertainty and firm oil prices elevate IV. Straddles work in 3/9 quarters, while calendar spreads...

Mint Finance

Global Base Oils Cargo Flows: Week To 4 September

A large cargo of Group II base oils loaded from Taiwan in late August before heading to South Korea, set to arrive this week. Shipments from...

Base Oil News

ExxonMobil: How AI and ERP Simplification Are Quietly Transforming the Business!

ExxonMobil's recent earnings call highlighted the company's transformation efforts and strategic direction with a focus on technology-driven...

Baptista Research

Exxon's Q1 earnings are expected to rise, but uncertainty and firm oil prices elevate IV. Straddles work in 3/9 quarters, while calendar spreads...