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 oil supply exceeded demand by the smallest December margin in three years, leaving the market with less buffer as Middle East disruption spreads</li><li>Global supply reached a four-year high in 2025, but expectations of a 2026 surplus have reversed as the conflict disrupts shipments and threatens output</li><li>China’s elevated February output cushions the market against supply shocks, but lower Group III production leaves that segment tighter</li></ul>

Global base oil supply exceeded demand by the smallest December margin in three years, leaving the market with less buffer as Middle East disruption spreadsGlobal supply reached a four-year high in 2025, but expectations of a 2026 surplus have reversed as the conflict disrupts shipments and threatens outputChina’s elevated February output cushions the market against supply shocks, but lower Group III production leaves that segment tighter

Base Oils and Lubricants: Weekly Global Market Review - 13 Mar '26

<ul><li>Large Group II cargo with combination of light and heavy grades set to load from Taiwan this week, with India the likely destination.</li><li>Cargo loadings from Taiwan show signs of rising so far in March vs February, but remain well below December and January levels.</li><li>Cargo of Group III base oils loaded from Indonesia in early-March before heading to Europe, set to arrive around mid-April.</li></ul>

Large Group II cargo with combination of light and heavy grades set to load from Taiwan this week, with India the likely destination.Cargo loadings from Taiwan show signs of rising so far in March vs February, but remain well below December and January levels.Cargo of Group III base oils loaded from Indonesia in early-March before heading to Europe, set to arrive around mid-April.

Global Base Oils Cargo Flows: Week To 13 March

Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Cross Asset Strategy

<ul>
<li>Asia's dependence on Middle Eastern energy and the Strait of Hormuz transit route has driven immense share price volatility - especially in Korea, Japan and pockets of ASEAN.  </li>
<li>The top winners and top losers across market-sectors indicate that the market is most worried about input shortage across industries and potential demand destruction driven by heightened inflation expectation.</li>
<li>Manufacturing sectors and consumer proxies across Asia could continue to underperform if the conflict lingers. Energy, high dividend yield, precious metals and developed Asia financials could be the safe havens.</li>
</ul>


Asia's dependence on Middle Eastern energy and the Strait of Hormuz transit route has driven immense share price volatility - especially in Korea, Japan and pockets of ASEAN.  
The top winners and top losers across market-sectors indicate that the market is most worried about input shortage across industries and potential demand destruction driven by heightened inflation expectation.
Manufacturing sectors and consumer proxies across Asia could continue to underperform if the conflict lingers. Energy, high dividend yield, precious metals and developed Asia financials could be the safe havens.


Asian Equities: What's Being Discounted Now, After the Carnage?

<ul><li>Asia's January base oils exports rise to a 17-month high, as firm demand limits surplus build-up but leaves the market exposed to Middle East supply disruption.</li><li>South Korea's output hits a three-year high, building stocks ahead of plant maintenance and potential crude supply disruption.</li><li>Global Group III imports from the Middle East hit a six-year high in 2025, deepening reliance on supply lines now facing acute disruption.</li></ul>

Asia's January base oils exports rise to a 17-month high, as firm demand limits surplus build-up but leaves the market exposed to Middle East supply disruption.South Korea's output hits a three-year high, building stocks ahead of plant maintenance and potential crude supply disruption.Global Group III imports from the Middle East hit a six-year high in 2025, deepening reliance on supply lines now facing acute disruption.

Base Oils and Lubricants: Weekly Global Market Review - 6 Mar '26

<ul><li>Group II cargo with a combination of light and heavy grades set to load from Taiwan in coming days following a slowdown in flows in early March.</li><li>Taiwan's February cargo loadings fell sharply from January, pointing to a drop in total exports last month to the lowest in around a year.</li><li>Large cargo of premium-grade base oils loaded from South Korea in early March bound for the US Gulf coast, set to arrive in first-half April.</li></ul>

Group II cargo with a combination of light and heavy grades set to load from Taiwan in coming days following a slowdown in flows in early March.Taiwan's February cargo loadings fell sharply from January, pointing to a drop in total exports last month to the lowest in around a year.Large cargo of premium-grade base oils loaded from South Korea in early March bound for the US Gulf coast, set to arrive in first-half April.

Global Base Oils Cargo Flows: Week To 6 March

China

PetroChina Company Limited operates as an oil and gas company. The Company offers crude oil and oil products exploration, development, production and marketing. PetroChina also markets petrochemical products and derivative chemicals.

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PetroChina (601857 CH)

Base Oils and Lubricants: Weekly Global Market Review - 13 Mar '26

Global base oil supply exceeded demand by the smallest December margin in three years, leaving the market with less buffer as Middle East...

Base Oil News

Global Base Oils Cargo Flows: Week To 13 March

Large Group II cargo with combination of light and heavy grades set to load from Taiwan this week, with India the likely destination. Cargo...

Base Oil News

Asian Equities: What's Being Discounted Now, After the Carnage?

Asia's equity volatility is driven by its reliance on ME energy. Top worries are about input shortages & demand destruction. Safe havens: Energy,...

Manishi Raychaudhuri

Base Oils and Lubricants: Weekly Global Market Review - 6 Mar '26

Asia's January base oils exports rise to a 17-month high, as firm demand limits surplus build-up but leaves the market exposed to Middle East...

Base Oil News

Global Base Oils Cargo Flows: Week To 6 March

Group II cargo with a combination of light and heavy grades set to load from Taiwan in coming days following a slowdown in flows in early...

Base Oil News

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Base Oils and Lubricants: Weekly Global Market Review - 13 Mar '26

Global base oil supply exceeded demand by the smallest December margin in three years, leaving the market with less buffer as Middle East...

Base Oil News

Global Base Oils Cargo Flows: Week To 13 March

Large Group II cargo with combination of light and heavy grades set to load from Taiwan this week, with India the likely destination. Cargo...

Base Oil News

Asian Equities: What's Being Discounted Now, After the Carnage?

​Asia's equity volatility is driven by its reliance on ME energy. Top worries are about input shortages & demand destruction. Safe havens: Energy,...

Manishi Raychaudhuri

Base Oils and Lubricants: Weekly Global Market Review - 6 Mar '26

Asia's January base oils exports rise to a 17-month high, as firm demand limits surplus build-up but leaves the market exposed to Middle East...

Base Oil News

Global Base Oils Cargo Flows: Week To 6 March

Group II cargo with a combination of light and heavy grades set to load from Taiwan in coming days following a slowdown in flows in early...

Base Oil News

Asia's equity volatility is driven by its reliance on ME energy. Top worries are about input shortages & demand destruction. Safe havens: Energy,...