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 and China accounted for 55% of global supply, maintaining a share above 50% for the ninth straight month despite lower regional output.</li><li>Global demand rose by more than 4% in May, but growth slowed to its weakest pace in 11 months as stock-building eased.</li><li>The global surplus held below year-earlier levels for the eighth time in nine months, with the January-May surplus down by about 35% from the same period in 2025.</li></ul>

Asia and China accounted for 55% of global supply, maintaining a share above 50% for the ninth straight month despite lower regional output.Global demand rose by more than 4% in May, but growth slowed to its weakest pace in 11 months as stock-building eased.The global surplus held below year-earlier levels for the eighth time in nine months, with the January-May surplus down by about 35% from the same period in 2025.

Global Base Oils Supply Falls To 13-Month Low In May

<ul><li>Cargo loadings from Taiwan slowed, after a surge in shipments in late July and early August, with one cargo moving to China in recent days.</li><li>A cargo loaded from South Korea in second-half June  and reached Brazil in recent days, after a stop in South Africa.</li><li>A large cargo loaded from Singapore in the past week before heading to Fujairah, UAE, set to arrive in second-half August; it is the first such shipment to the UAE since March.</li></ul>

Cargo loadings from Taiwan slowed, after a surge in shipments in late July and early August, with one cargo moving to China in recent days.A cargo loaded from South Korea in second-half June  and reached Brazil in recent days, after a stop in South Africa.A large cargo loaded from Singapore in the past week before heading to Fujairah, UAE, set to arrive in second-half August; it is the first such shipment to the UAE since March.

Global Base Oils Cargo Flows: Week To 14 August

<ul><li>Surge in Group II cargo loadings from Taiwan at end-July extended into early August, with a wave of shipments moving mostly to Southeast Asian markets, including the Philippines and Indonesia.</li><li>Cargo loaded from South Korea in early-July before heading to the US Gulf coast, arrived in recent days.</li><li>Singapore took delivery in the past week of its largest cargo from the UAE since last September, despite ongoing disruption to Middle East shipping.</li></ul>

Surge in Group II cargo loadings from Taiwan at end-July extended into early August, with a wave of shipments moving mostly to Southeast Asian markets, including the Philippines and Indonesia.Cargo loaded from South Korea in early-July before heading to the US Gulf coast, arrived in recent days.Singapore took delivery in the past week of its largest cargo from the UAE since last September, despite ongoing disruption to Middle East shipping.

Global Base Oils Cargo Flows: Week To 7 August

<ul><li>Global base oils markets grew more divided by region as Asia's broad supply softened Middle East disruptions, Europe's premium-grade supply drew on non-Middle East routes, though not enough to ease Group III tightness, and the US stayed structurally tighter.</li></ul><ul><li>Asia's broader supply base limited the impact of Middle East Group III disruptions, while the US stayed structurally tighter.</li><li>Singapore's prolonged production constraints kept imports elevated and exports subdued, giving rival Asian suppliers more time to strengthen relationships with buyers traditionally reliant on Singapore.</li></ul>

Global base oils markets grew more divided by region as Asia's broad supply softened Middle East disruptions, Europe's premium-grade supply drew on non-Middle East routes, though not enough to ease Group III tightness, and the US stayed structurally tighter.Asia's broader supply base limited the impact of Middle East Group III disruptions, while the US stayed structurally tighter.Singapore's prolonged production constraints kept imports elevated and exports subdued, giving rival Asian suppliers more time to strengthen relationships with buyers traditionally reliant on Singapore.

Base Oils and Lubricants: Weekly Global Market Review - 07 Aug '26

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Phillips 66 delivered a performance in its third-quarter 2025 results characterized by strong operational execution across its diverse business segments despite some challenges.</li><li>The company, under the leadership of CEO Mark Lashier, continues to focus strategically on strengthening its core operations, particularly in refining and midstream activities.</li><li>A notable highlight of the quarter was the high utilization rate of the refining segment, achieving 99% - the highest since 2018, which reflects effective operational management aimed at maximizing outputs from existing capacities.</li></ul>

Phillips 66 delivered a performance in its third-quarter 2025 results characterized by strong operational execution across its diverse business segments despite some challenges.The company, under the leadership of CEO Mark Lashier, continues to focus strategically on strengthening its core operations, particularly in refining and midstream activities.A notable highlight of the quarter was the high utilization rate of the refining segment, achieving 99% - the highest since 2018, which reflects effective operational management aimed at maximizing outputs from existing capacities.

United States

Phillips 66 is a downstream energy company.  The Company's operations include oil refining, marketing and transportation.  Phillips 66's operations also include chemical manufacturing and power generation.

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Phillips 66 (PSX US)

Global Base Oils Supply Falls To 13-Month Low In May

Asia and China accounted for 55% of global supply, maintaining a share above 50% for the ninth straight month despite lower regional...

Base Oil News

Global Base Oils Cargo Flows: Week To 14 August

Cargo loadings from Taiwan slowed, after a surge in shipments in late July and early August, with one cargo moving to China in recent days. A...

Base Oil News

Global Base Oils Cargo Flows: Week To 7 August

Surge in Group II cargo loadings from Taiwan at end-July extended into early August, with a wave of shipments moving mostly to Southeast Asian...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 07 Aug '26

Global base oils markets grew more divided by region as Asia's broad supply softened Middle East disruptions, Europe's premium-grade supply drew...

Base Oil News

Phillips 66: Refined Products Expansion

Phillips 66 delivered a performance in its third-quarter 2025 results characterized by strong operational execution across its diverse business...

Baptista Research

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