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 demand could fall in face of slumping crude oil prices and concern about slower-than-expected economic growth in the region.</li><li>Concern about weaker demand cuts fundamentals-related support that could cushion against impact of falling crude oil prices.</li><li>Concern about more muted demand and expected improvement in base oils supply in coming weeks would contrast with increasingly high base oils margins caused by lower crude oil prices.</li></ul>

Asia’s base oils demand could fall in face of slumping crude oil prices and concern about slower-than-expected economic growth in the region.Concern about weaker demand cuts fundamentals-related support that could cushion against impact of falling crude oil prices.Concern about more muted demand and expected improvement in base oils supply in coming weeks would contrast with increasingly high base oils margins caused by lower crude oil prices.

Asia base oils demand outlook: Week of 7 April

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand (SET).</li>
<li>In this insight, we take a look at the potential ADDs/DELs for SET 50 during the index rebal event in June 2025.</li>
<li>Currently, we expect four ADDs and four DELs. There are roughly two more months left in the reference period.</li>
</ul>


The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand (SET).
In this insight, we take a look at the potential ADDs/DELs for SET 50 during the index rebal event in June 2025.
Currently, we expect four ADDs and four DELs. There are roughly two more months left in the reference period.


Quiddity Leaderboard SET50 Jun25: Four Changes Likely; Capping to Be Introduced

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 analyzed the changes in short interest of Stock Exchange of Thailand as of Apr 4th.We estimate that they had an aggregated short interest worth USD1.8bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Airports of Thailand, PTT E&amp;P, Bangkok Bank, Kasikornbank, CP ALL, CP AXTRA NVDR, Thai Oil, Supalai, Siri Prime Office Property Fd.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Apr 4th.We estimate that they had an aggregated short interest worth USD1.8bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Airports of Thailand, PTT E&amp;P, Bangkok Bank, Kasikornbank, CP ALL, CP AXTRA NVDR, Thai Oil, Supalai, Siri Prime Office Property Fd.


Thailand Short Interest Weekly (Apr 4th): Airports of Thailand, PTT E&P, Bangkok Bank, Kasikornbank

<ul><li>US base oils export price-discount to US domestic prices stays narrower in Q1 2025 vs year-earlier.</li><li>Narrower export price-discount points to more manageable supply surplus at end-2024 and early this year, when domestic demand faced seasonal slowdown.</li><li>More manageable supply surplus follows firm export volumes through H2 2024 and early this year.</li></ul>

US base oils export price-discount to US domestic prices stays narrower in Q1 2025 vs year-earlier.Narrower export price-discount points to more manageable supply surplus at end-2024 and early this year, when domestic demand faced seasonal slowdown.More manageable supply surplus follows firm export volumes through H2 2024 and early this year.

Global base oils arb outlook: Week of 31 March

<ul><li>Global base oils prices slip relative to firmer feedstock/competing fuel prices.</li><li>Base oils margins in most markets remain at levels that point to balanced-to-tight supply-demand fundamentals, incentivizing refiners to maintain higher output.</li><li>FOB Asia base oils prices fall vs gasoil prices.</li></ul>

Global base oils prices slip relative to firmer feedstock/competing fuel prices.Base oils margins in most markets remain at levels that point to balanced-to-tight supply-demand fundamentals, incentivizing refiners to maintain higher output.FOB Asia base oils prices fall vs gasoil prices.

Global base oils margins outlook: Week of 31 March

Thailand

PTT Public Company Limited operates as an oil and gas company. The Company produces, transports, and sells natural gas, crude oil, lubricants, aviation and marine, and petrochemical products. PTT offers fleet cards, storage, electronic bill presentment, and other related services. PTT serves customers in Thailand.

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PTT PCL (PTT TB)

Asia base oils demand outlook: Week of 7 April

Asia’s base oils demand could fall in face of slumping crude oil prices and concern about slower-than-expected economic growth in the...

Base Oil News

Quiddity Leaderboard SET50 Jun25: Four Changes Likely; Capping to Be Introduced

There could be 4x ADV to buy in Thanachart (TCAP TB) and we see this as a high-conviction ADD. Some of the other ADDs/DELs are closer to the border...

Janaghan Jeyakumar, CFA

Thailand Short Interest Weekly (Apr 4th): Airports of Thailand, PTT E&P, Bangkok Bank, Kasikornbank

We analyzed SET short interest report for the past week and highlighted short interest changes in Airports of Thailand, PTT E&P, Bangkok Bank,...

Ke Yan, CFA, FRM

Global base oils arb outlook: Week of 31 March

US base oils export price-discount to US domestic prices stays narrower in Q1 2025 vs year-earlier. Narrower export price-discount points to more...

Base Oil News

Global base oils margins outlook: Week of 31 March

Global base oils prices slip relative to firmer feedstock/competing fuel prices. Base oils margins in most markets remain at levels that point to...

Base Oil News

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