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>Spare base oils supply is thin across major regions, leaving little room to absorb disruption from storms, outages or maintenance</li></ul><ul><li>Asia cleared a swathe of supply in the third quarter, leaving it balanced to tight with less room to cover other markets.</li><li>Singapore’s exports fell for a second week, a slowdown that would further limit Asia’s spare supply if it continues as seasonal demand firms.</li></ul>

Spare base oils supply is thin across major regions, leaving little room to absorb disruption from storms, outages or maintenanceAsia cleared a swathe of supply in the third quarter, leaving it balanced to tight with less room to cover other markets.Singapore’s exports fell for a second week, a slowdown that would further limit Asia’s spare supply if it continues as seasonal demand firms.

Base Oils and Lubricants: Weekly Global Market Review - 9 Oct '26

<ul><li>Base oils shipments from Taiwan extended their slowdown into a second week, coinciding with planned plant maintenance starting in October.</li><li>A cargo with a combination of Group II light and heavy grades loaded from Taiwan in early September for Europe passed through the Red Sea and Suez Canal in recent days.</li><li>A cargo loaded from South Korea in recent days headed to Northwest Europe, with arrival due in second-half November.</li></ul>

Base oils shipments from Taiwan extended their slowdown into a second week, coinciding with planned plant maintenance starting in October.A cargo with a combination of Group II light and heavy grades loaded from Taiwan in early September for Europe passed through the Red Sea and Suez Canal in recent days.A cargo loaded from South Korea in recent days headed to Northwest Europe, with arrival due in second-half November.

Global Base Oils Cargo Flows: Week To 9 October

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Technical Analysis

<ul><li>Concerns over rising oil prices and US bond yields, alongside declines in Asian stock markets, triggered selling pressure on the SET at the open.</li><li>Selling volume also declined and remained relatively light, suggesting limited downside or possible sideways consolidation.</li><li>We recommend buying on weakness, as we still expect a rebound, particularly given that most blue-chip stocks have faced relatively limited selling pressure.</li></ul>

Concerns over rising oil prices and US bond yields, alongside declines in Asian stock markets, triggered selling pressure on the SET at the open.Selling volume also declined and remained relatively light, suggesting limited downside or possible sideways consolidation.We recommend buying on weakness, as we still expect a rebound, particularly given that most blue-chip stocks have faced relatively limited selling pressure.

<ul><li>Concerns over oil prices following a Houthi attack on Saudi Arabia and profit-taking across Asian markets initially put the SET under selling pressure.</li><li>The index rose for the fifth consecutive session, maintaining a higher-high pattern as blue-chip stocks took turns leading the market.</li><li>We recommend buying on weakness, as the index remains highly volatile.</li></ul>

Concerns over oil prices following a Houthi attack on Saudi Arabia and profit-taking across Asian markets initially put the SET under selling pressure.The index rose for the fifth consecutive session, maintaining a higher-high pattern as blue-chip stocks took turns leading the market.We recommend buying on weakness, as the index remains highly volatile.

Krungthai XSpring Technical Eng. - October 8, 2026

Equity Bottom-Up

<ul>
<li>PTT Group held a site visit to the Clean Fuel Project (CFP) and PTT Tank Terminal on September 10.</li>
<li>Overall, TOP's CFP is progressing as planned, with full COD maintained for 3Q28, while PTT Tank Terminal is pursuing a strategic growth direction after being elevated to PTT's infrastructure flagship.</li>
<li>We came away positive from the PTT Group site visit and its long-term growth potential.</li>
</ul>


PTT Group held a site visit to the Clean Fuel Project (CFP) and PTT Tank Terminal on September 10.
Overall, TOP's CFP is progressing as planned, with full COD maintained for 3Q28, while PTT Tank Terminal is pursuing a strategic growth direction after being elevated to PTT's infrastructure flagship.
We came away positive from the PTT Group site visit and its long-term growth potential.


PTT Group Site Visit – Clean Fuel Project and PTT Tank Terminal

Thailand

PTT is a Thai state-owned integrated petroleum and natural gas company involved in exploration, production, refining, and marketing of oil and gas, petrochemicals, and electricity generation. It operates extensive submarine gas pipelines and a network of LPG terminals. Headquartered in Bangkok, Thailand, the company was founded in 1978.

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PTT (PTT TB)

Base Oils and Lubricants: Weekly Global Market Review - 9 Oct '26

Spare base oils supply is thin across major regions, leaving little room to absorb disruption from storms, outages or maintenance Asia...

Base Oil News

Global Base Oils Cargo Flows: Week To 9 October

Base oils shipments from Taiwan extended their slowdown into a second week, coinciding with planned plant maintenance starting in October. A cargo...

Base Oil News

Technical Analysis

Concerns over rising oil prices and US bond yields, alongside declines in Asian stock markets, triggered selling pressure on the SET at the...

Krungthai XSpring

Krungthai XSpring Technical Eng. - October 8, 2026

Concerns over oil prices following a Houthi attack on Saudi Arabia and profit-taking across Asian markets initially put the SET under selling...

Krungthai XSpring

PTT Group Site Visit – Clean Fuel Project and PTT Tank Terminal

PTT Group held a site visit to the Clean Fuel Project (CFP) and PTT Tank Terminal on September 10. Overall, TOP's CFP is progressing as planned,...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)