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 get support from moves to lock in supplies to meet seasonal pick-up in demand during final weeks of Q3 2025.</li><li>Demand could have already got steady underlying support in recent weeks because of tighter-than-expected supply-demand fundamentals at start of Q3 2025.</li><li>Persistently tighter fundamentals could prompt buyers to maintain higher stocks until they are confident about any sustained improvement in supply.</li></ul>

Asia’s base oils demand could get support from moves to lock in supplies to meet seasonal pick-up in demand during final weeks of Q3 2025.Demand could have already got steady underlying support in recent weeks because of tighter-than-expected supply-demand fundamentals at start of Q3 2025.Persistently tighter fundamentals could prompt buyers to maintain higher stocks until they are confident about any sustained improvement in supply.

Asia base oils demand outlook: Week of 4 August

<ul><li>Group II heavy-grade base oils premium to light grades is almost the same in US, Europe and Asia markets at same time and for first time in more than five years.</li><li>Similar price-spreads in all those markets contrast with diverging fundamentals driving those similar price-spreads, especially in Europe.</li><li>Similar price-spreads in US vs other markets follow sustained weakness of US heavy-grade prices because of persistent surplus supply.</li></ul>

Group II heavy-grade base oils premium to light grades is almost the same in US, Europe and Asia markets at same time and for first time in more than five years.Similar price-spreads in all those markets contrast with diverging fundamentals driving those similar price-spreads, especially in Europe.Similar price-spreads in US vs other markets follow sustained weakness of US heavy-grade prices because of persistent surplus supply.

Global base oils arb outlook: Week of 4 August

<ul><li>Asia’s Group II heavy-grade base oils price-premium to gasoil holds steady at lower level, close to levels in Q4 2024.</li><li>Lower heavy-grade base oils margins and falling regional cargo price point to weaker supply-demand fundamentals.</li><li>Even at lower level, price-premium remains at level that incentivizes refiners to maintain steady output of the product.</li></ul>

Asia’s Group II heavy-grade base oils price-premium to gasoil holds steady at lower level, close to levels in Q4 2024.Lower heavy-grade base oils margins and falling regional cargo price point to weaker supply-demand fundamentals.Even at lower level, price-premium remains at level that incentivizes refiners to maintain steady output of the product.

Asia base oils supply outlook: Week of 4 August

<ul><li>Global base oils prices mostly fall relative to feedstock/competing fuel prices, with export values under more pressure.</li><li>Even at lower levels, price-differentials mostly hold at levels that sustain incentive for refiners to maintain output of most base oils grades.</li><li>FOB Asia base oils cargo prices hold steady versus Singapore gasoil.</li></ul>

Global base oils prices mostly fall relative to feedstock/competing fuel prices, with export values under more pressure.Even at lower levels, price-differentials mostly hold at levels that sustain incentive for refiners to maintain output of most base oils grades.FOB Asia base oils cargo prices hold steady versus Singapore gasoil.

Global base oils margins outlook: Week of 4 August

<ul><li>Asia’s heavy-grade base oils prices hold at elevated levels vs Singapore gasoil, even if lower than in Q2 2025.</li><li>Firm heavy-grade margins sustain incentive for refiners to maintain output, even amid signs of pick-up in surplus supplies.</li><li>Asia’s Group II heavy-grade prices hold at levels that keep open arbitrage from US and keep shut arbitrage to Americas.</li></ul>

Asia’s heavy-grade base oils prices hold at elevated levels vs Singapore gasoil, even if lower than in Q2 2025.Firm heavy-grade margins sustain incentive for refiners to maintain output, even amid signs of pick-up in surplus supplies.Asia’s Group II heavy-grade prices hold at levels that keep open arbitrage from US and keep shut arbitrage to Americas.

Asia base oils supply outlook: Week of 28 July

South Korea

S-Oil Corporation refines crude oil and sells petroleum and its related products.  The Company mainly focuses on petroleum refining, petrochemical, and lubricant business. S-Oil's major products are gasoline, bunker oil, kerosene, naphtha, lubricants, benzene, toluene, and xylene.

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S Oil Corp (010950 KS)

Asia base oils demand outlook: Week of 4 August

Asia’s base oils demand could get support from moves to lock in supplies to meet seasonal pick-up in demand during final weeks of Q3 2025. Demand...

Base Oil News

Global base oils arb outlook: Week of 4 August

Group II heavy-grade base oils premium to light grades is almost the same in US, Europe and Asia markets at same time and for first time in more...

Base Oil News

Asia base oils supply outlook: Week of 4 August

Asia’s Group II heavy-grade base oils price-premium to gasoil holds steady at lower level, close to levels in Q4 2024. Lower heavy-grade base oils...

Base Oil News

Global base oils margins outlook: Week of 4 August

Global base oils prices mostly fall relative to feedstock/competing fuel prices, with export values under more pressure. Even at lower levels,...

Base Oil News

Asia base oils supply outlook: Week of 28 July

Asia’s heavy-grade base oils prices hold at elevated levels vs Singapore gasoil, even if lower than in Q2 2025. Firm heavy-grade margins sustain...

Base Oil News

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52-week Range

Market Cap (USDm)

P/E

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