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>Asia’s base oils price-premium to competing/feedstock prices extends fall to five-month low.</li><li>Lower margins coincide with improving supply in Asia as more plant-maintenance draws to a close.</li><li>Improving supply and seasonal slowdown in demand could curb refiners’ leverage to target higher prices to reverse recent drop in margins.</li></ul>

Asia’s base oils price-premium to competing/feedstock prices extends fall to five-month low.Lower margins coincide with improving supply in Asia as more plant-maintenance draws to a close.Improving supply and seasonal slowdown in demand could curb refiners’ leverage to target higher prices to reverse recent drop in margins.

Asia base oils supply outlook: Week of 23 June

<ul><li>Asia’s base oils demand could be firmer than usual for the time of year as higher crude oil prices and growing concern about supply disruptions counter weaker supply-demand fundamentals.</li><li>Demand for Group I heavy neutrals and Group III base oils especially could get support from concern that any supply disruptions would have more direct impact on those products.</li><li>Concern about tighter supply of Group I heavy neutrals could support stronger demand for Group II heavy grades as an alternative.</li></ul>

Asia’s base oils demand could be firmer than usual for the time of year as higher crude oil prices and growing concern about supply disruptions counter weaker supply-demand fundamentals.Demand for Group I heavy neutrals and Group III base oils especially could get support from concern that any supply disruptions would have more direct impact on those products.Concern about tighter supply of Group I heavy neutrals could support stronger demand for Group II heavy grades as an alternative.

Asia base oils demand outlook: Week of 23 June

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 155 stocks over the last week. The average A-H premium was 71.7% as of Jun 20th.</li>
<li>The average A-H premium changed by 0.5ppt week-on-week, led by energy, health care, utilities and offset by consumer staples, real estate, consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for Petrochina, Shanghai Junshi Biosciences, China Oilfield Services, Shanghai Petrochemical.</li>
</ul>


We analyse the changes of A-H premium on 155 stocks over the last week. The average A-H premium was 71.7% as of Jun 20th.
The average A-H premium changed by 0.5ppt week-on-week, led by energy, health care, utilities and offset by consumer staples, real estate, consumer discretionary.
We highlight weekly changes in A-H premium for Petrochina, Shanghai Junshi Biosciences, China Oilfield Services, Shanghai Petrochemical.


A-H Premium Weekly (Jun 20th): Petrochina, Shanghai Junshi Biosciences, China Oilfield Services

<ul><li>Global base oils margins fall as feedstock/competing fuel prices surge.</li><li>Sharp fall in base oils margins reflect impact of higher crude/diesel prices rather than any sudden change in base oils supply-demand fundamentals.</li><li>Fall in base oils margins comes at a time of year when supply-demand fundamentals are already starting to face downward pressure.</li></ul>

Global base oils margins fall as feedstock/competing fuel prices surge.Sharp fall in base oils margins reflect impact of higher crude/diesel prices rather than any sudden change in base oils supply-demand fundamentals.Fall in base oils margins comes at a time of year when supply-demand fundamentals are already starting to face downward pressure.

Global base oils margins outlook: Week of 16 June

<ul><li>US Group III 4cSt base oils price rises in June to highest level in almost nine months.</li><li>US Group III 4cSt price rises relative to Group II base oils, relative to feedstock prices and relative to other regions.</li><li>US Group III price-strength coincides with tighter global Group III supply-demand fundamentals and growing number of signals reflecting those tighter fundamentals.</li></ul>

US Group III 4cSt base oils price rises in June to highest level in almost nine months.US Group III 4cSt price rises relative to Group II base oils, relative to feedstock prices and relative to other regions.US Group III price-strength coincides with tighter global Group III supply-demand fundamentals and growing number of signals reflecting those tighter fundamentals.

Global base oils arb outlook: Week of 16 June

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)

Asia base oils supply outlook: Week of 23 June

Asia’s base oils price-premium to competing/feedstock prices extends fall to five-month low. Lower margins coincide with improving supply in Asia...

Base Oil News

Asia base oils demand outlook: Week of 23 June

Asia’s base oils demand could be firmer than usual for the time of year as higher crude oil prices and growing concern about supply disruptions...

Base Oil News

A-H Premium Weekly (Jun 20th): Petrochina, Shanghai Junshi Biosciences, China Oilfield Services

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Petrochina, Shanghai Junshi Biosciences, China Oilfield...

Ke Yan, CFA, FRM

Global base oils margins outlook: Week of 16 June

Global base oils margins fall as feedstock/competing fuel prices surge. Sharp fall in base oils margins reflect impact of higher crude/diesel...

Base Oil News

Global base oils arb outlook: Week of 16 June

US Group III 4cSt base oils price rises in June to highest level in almost nine months. US Group III 4cSt price rises relative to Group II base...

Base Oil News

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