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>Global base oils prices turn more mixed relative to feedstock/competing fuel prices.</li><li>Light-grade margins face more pressure in Asia than in other markets.</li><li>Dynamic boosts incentive for adjustments in output in that market, points to more balanced fundamentals in other markets.</li></ul>

Global base oils prices turn more mixed relative to feedstock/competing fuel prices.Light-grade margins face more pressure in Asia than in other markets.Dynamic boosts incentive for adjustments in output in that market, points to more balanced fundamentals in other markets.

Global base oils margins outlook: Week of 28 July

<ul><li>Asia’s base oils demand could get support as buyers focus on locking in supply to cover requirements during final weeks of Q3 2025.</li><li>Dynamic would highlight disconnect between typical seasonal slowdown in lube demand in month of August and need to secure base oils supplies to meet pick-up in demand at end of third quarter.</li><li>Expectations of sufficient supply could prompt buyers to maintain balanced inventories rather than to seek larger stocks.</li></ul>

Asia’s base oils demand could get support as buyers focus on locking in supply to cover requirements during final weeks of Q3 2025.Dynamic would highlight disconnect between typical seasonal slowdown in lube demand in month of August and need to secure base oils supplies to meet pick-up in demand at end of third quarter.Expectations of sufficient supply could prompt buyers to maintain balanced inventories rather than to seek larger stocks.

Asia base oils demand outlook: Week of 28 July

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 58.2% as of Jul 25th.</li>
<li>The average A-H premium changed by -2.7ppt week-on-week, led by materials, communication services, financials and offset by consumer staples, real estate, health care.</li>
<li>We highlight weekly changes in A-H premium for Jiangxi Copper, Dongfang Electric, China Life, China Energy Engineering, Zhengzhou Coal Mining Machinery, China Railway Construction.</li>
</ul>


We analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 58.2% as of Jul 25th.
The average A-H premium changed by -2.7ppt week-on-week, led by materials, communication services, financials and offset by consumer staples, real estate, health care.
We highlight weekly changes in A-H premium for Jiangxi Copper, Dongfang Electric, China Life, China Energy Engineering, Zhengzhou Coal Mining Machinery, China Railway Construction.


A-H Premium Weekly (Jul 25th): Jiangxi Copper, Dongfang Electric, China Life

<ul><li>Global base oils prices face more pressure versus feedstock/competing fuel prices, especially for light grades, and especially in Asia.</li><li>Heavy-grade price-premium to feedstock/competing fuel prices also faces more pressure in Asia than in other markets.</li><li>Dynamic increases prospect of any adjustments in output taking place in Asia ahead of other markets.</li></ul>

Global base oils prices face more pressure versus feedstock/competing fuel prices, especially for light grades, and especially in Asia.Heavy-grade price-premium to feedstock/competing fuel prices also faces more pressure in Asia than in other markets.Dynamic increases prospect of any adjustments in output taking place in Asia ahead of other markets.

Global base oils margins outlook: Week of 21 July

<ul><li>Asia’s Group II heavy-grade base oils cargo price-premium to US export prices widens in H1 July, further complicating arbitrage to Americas.</li><li>Asia's Group II light-grade price-discount to US export prices narrows, complicating arbitrage to Americas.</li><li>Asia’s firm Group II base oils prices contrast with steep price-discount to US export prices in Q2-Q3 2024.</li></ul>

Asia’s Group II heavy-grade base oils cargo price-premium to US export prices widens in H1 July, further complicating arbitrage to Americas.Asia's Group II light-grade price-discount to US export prices narrows, complicating arbitrage to Americas.Asia’s firm Group II base oils prices contrast with steep price-discount to US export prices in Q2-Q3 2024.

Global base oils arb outlook: Week of 21 July

China

PetroChina Company Limited explores, develops, and produces crude oil and natural gas.  The Company also refines, transports, and distributes crude oil and petroleum products, produces and sells chemicals, and transmits, markets and sells natural gas.

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PetroChina Co Ltd ADR (PTR US)

Global base oils margins outlook: Week of 28 July

Global base oils prices turn more mixed relative to feedstock/competing fuel prices. Light-grade margins face more pressure in Asia than in other...

Base Oil News

Asia base oils demand outlook: Week of 28 July

Asia’s base oils demand could get support as buyers focus on locking in supply to cover requirements during final weeks of Q3 2025. Dynamic would...

Base Oil News

A-H Premium Weekly (Jul 25th): Jiangxi Copper, Dongfang Electric, China Life

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Jiangxi Copper, Dongfang Electric, China Life, China Energy...

Ke Yan, CFA, FRM

Global base oils margins outlook: Week of 21 July

Global base oils prices face more pressure versus feedstock/competing fuel prices, especially for light grades, and especially in...

Base Oil News

Global base oils arb outlook: Week of 21 July

Asia’s Group II heavy-grade base oils cargo price-premium to US export prices widens in H1 July, further complicating arbitrage to...

Base Oil News

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52-week Range

Market Cap (USDm)

P/E

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