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>Middle East supply tightened immediately as imports had already slumped, with lower inventories intensifying the impact of the disruptions.</li><li>West and North Africa entered the disruption period with already-thin buffers, as weaker European supply had curtailed the usual start-of-year inventory build.</li><li>Europe entered the disruption with higher Group III supply, but its reliance on the Middle East for over 30% of volumes left it facing renewed inventory pressure.</li></ul>

Middle East supply tightened immediately as imports had already slumped, with lower inventories intensifying the impact of the disruptions.West and North Africa entered the disruption period with already-thin buffers, as weaker European supply had curtailed the usual start-of-year inventory build.Europe entered the disruption with higher Group III supply, but its reliance on the Middle East for over 30% of volumes left it facing renewed inventory pressure.

Base Oils and Lubricants: Weekly Global Market Review - 24 Apr '26

<ul><li>Cargo with a combination of light and heavy Group II base oils set to load from Taiwan in the coming days, with China the likely destination.</li><li>Cargo is the first in second-half April, amid a sharp slowdown in flows compared with first-half April.</li><li>Large cargo loaded from Taiwan in early April before heading to India, set to arrive in the coming days.</li></ul>

Cargo with a combination of light and heavy Group II base oils set to load from Taiwan in the coming days, with China the likely destination.Cargo is the first in second-half April, amid a sharp slowdown in flows compared with first-half April.Large cargo loaded from Taiwan in early April before heading to India, set to arrive in the coming days.

Global Base Oils Cargo Flows: Week To 24 April

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Thematic (Sector/Industry)

<ul><li>The SET lagged other Asian bourses, which were lifted by expectations of US–Iran peace talks, as pressure from DELTA’s Cash Balance status—alongside weakness in PTTEP and banking stocks—weighed on the index.</li><li>The pullback has not turned the price pattern negative, and the uptrend remains intact, with the index holding above the 5- and 10-day EMAs.</li><li>Accordingly, we continue to recommend selective speculation, with the index likely to move sideways to build a base before the next uptrend.</li></ul>

The SET lagged other Asian bourses, which were lifted by expectations of US–Iran peace talks, as pressure from DELTA’s Cash Balance status—alongside weakness in PTTEP and banking stocks—weighed on the index.The pullback has not turned the price pattern negative, and the uptrend remains intact, with the index holding above the 5- and 10-day EMAs.Accordingly, we continue to recommend selective speculation, with the index likely to move sideways to build a base before the next uptrend.

Krungthai XSpring Technical Eng. April 17, 2026

<ul><li>Pace of cargo loadings from Taiwan slowed in the past week, with most of this month’s shipments bound for India and Southeast Asia.</li><li>Two cargoes of Group II base oils loaded from Taiwan in early April before heading to India, set to arrive in the coming days.</li><li>Singapore took delivery of a large shipment from the Netherlands, that was likely arranged before the supply disruptions from end-February.</li></ul>

Pace of cargo loadings from Taiwan slowed in the past week, with most of this month’s shipments bound for India and Southeast Asia.Two cargoes of Group II base oils loaded from Taiwan in early April before heading to India, set to arrive in the coming days.Singapore took delivery of a large shipment from the Netherlands, that was likely arranged before the supply disruptions from end-February.

Global Base Oils Cargo Flows: Week To 17 April

<ul><li>Asia's March export surge deferred the impact of supply disruptions into the second quarter, but masking underlying shifts in trade flows</li><li>Singapore's exports held near a one-year low in the month to 15 April with volatile weekly flows and lower run rates pointing to tightening supply</li><li>South Korea's March exports hit a five-month high, partly covering lost Middle East Group III flows to the US, but cargo loadings showed signs of slowing in April</li></ul>

Asia's March export surge deferred the impact of supply disruptions into the second quarter, but masking underlying shifts in trade flowsSingapore's exports held near a one-year low in the month to 15 April with volatile weekly flows and lower run rates pointing to tightening supplySouth Korea's March exports hit a five-month high, partly covering lost Middle East Group III flows to the US, but cargo loadings showed signs of slowing in April

Base Oils and Lubricants: Weekly Global Market Review - 17 Apr '26

Thailand

IRPC is a leading integrated petroleum and petrochemical company, operating the first fully integrated petrochemical complex in Southeast Asia. It refines oil and produces petrochemical products, including various plastic resins, olefins, aromatics, lubricants, and asphalt, serving diverse industries. The company's operations are primarily located in Rayong Province, Thailand, and it was founded in 1978.

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IRPC (IRPC-R TB)

Base Oils and Lubricants: Weekly Global Market Review - 24 Apr '26

Middle East supply tightened immediately as imports had already slumped, with lower inventories intensifying the impact of the...

Base Oil News

Global Base Oils Cargo Flows: Week To 24 April

Cargo with a combination of light and heavy Group II base oils set to load from Taiwan in the coming days, with China the likely...

Base Oil News

Krungthai XSpring Technical Eng. April 17, 2026

The pullback has not turned the price pattern negative, and the uptrend remains intact, with the index holding above the 5- and 10-day EMAs.

Krungthai XSpring

Global Base Oils Cargo Flows: Week To 17 April

Pace of cargo loadings from Taiwan slowed in the past week, with most of this month’s shipments bound for India and Southeast Asia. Two cargoes of...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 17 Apr '26

Asia's March export surge deferred the impact of supply disruptions into the second quarter, but masking underlying shifts in trade...

Base Oil News

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52-week Range

Market Cap (USDm)

P/E

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