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>November supply rose month on month in every major market except the Middle East, where refinery-maintenance curtailed output.</li><li>Output posted the largest increase in the Americas, driven largely by the completion of plant-maintenance in the US.</li><li>Asia’s base oils output rose year on year for a fourth straight month, with gains extending into December.</li></ul>

November supply rose month on month in every major market except the Middle East, where refinery-maintenance curtailed output.Output posted the largest increase in the Americas, driven largely by the completion of plant-maintenance in the US.Asia’s base oils output rose year on year for a fourth straight month, with gains extending into December.

Global Base Oils Supply Rises in November Before Seasonal Slowdown

<ul><li>Asia demand rising: Philippines &amp; Vietnam imports rebounded in December, helping refiners clear surplus barrels</li><li>Indonesia Group III recovers: Exports rose as outage impacts faded; imports fell</li><li>Europe diverges: Group I supply rebounded in November, while Group II tightened on lower US and Saudi imports</li></ul>

Asia demand rising: Philippines &amp; Vietnam imports rebounded in December, helping refiners clear surplus barrelsIndonesia Group III recovers: Exports rose as outage impacts faded; imports fellEurope diverges: Group I supply rebounded in November, while Group II tightened on lower US and Saudi imports

Base Oils and Lubricants: Weekly Global Market Review - 06 Feb '26

<ul><li>Group II cargo-loadings from Taiwan pause in past week, after a surge in shipments in Dec 2025 and Jan 2026.</li><li>Several large cargoes loaded from Taiwan in H2 Jan 2026 before heading to India, with first shipment set to arrive in the coming days.</li><li>Singapore took delivery of another cargo from China in the past week, extending for a third straight week a wave of shipments from that market.</li></ul>

Group II cargo-loadings from Taiwan pause in past week, after a surge in shipments in Dec 2025 and Jan 2026.Several large cargoes loaded from Taiwan in H2 Jan 2026 before heading to India, with first shipment set to arrive in the coming days.Singapore took delivery of another cargo from China in the past week, extending for a third straight week a wave of shipments from that market.

Global Base Oils Cargo Flows: Week To 6 February

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>Although Asian bourses were pressured by declines in tech stocks in line with the US market, the SET rebounded strongly.</li><li>The index has moved into the key resistance zone at 1,350 points and has a chance to break above this level.</li><li>Accordingly, we recommend selective speculation, as leadership continues to rotate among large-cap stocks and trading volume remains robust.</li></ul>

Although Asian bourses were pressured by declines in tech stocks in line with the US market, the SET rebounded strongly.The index has moved into the key resistance zone at 1,350 points and has a chance to break above this level.Accordingly, we recommend selective speculation, as leadership continues to rotate among large-cap stocks and trading volume remains robust.

Krungthai XSpring Technical Eng. February 5, 2026.

Krungthai XSpring Technical Eng. February 5, 2026

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)

Global Base Oils Supply Rises in November Before Seasonal Slowdown

November supply rose month on month in every major market except the Middle East, where refinery-maintenance curtailed output. Output posted the...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 06 Feb '26

Asia demand rising: Philippines & Vietnam imports rebounded in December, helping refiners clear surplus barrels Indonesia Group III...

Base Oil News

Global Base Oils Cargo Flows: Week To 6 February

Group II cargo-loadings from Taiwan pause in past week, after a surge in shipments in Dec 2025 and Jan 2026. Several large cargoes loaded from...

Base Oil News

Krungthai XSpring Technical Eng. February 5, 2026.

Although Asian bourses were pressured by declines in tech stocks in line with the US market, the SET rebounded strongly. The index has moved into...

Krungthai XSpring

Krungthai XSpring Technical Eng. February 5, 2026

Accordingly, we recommend selective speculation, as leadership continues to rotate among large-cap stocks and trading volume remains robust.

Krungthai XSpring

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