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>Cargo of Group II light and heavy grades loaded from Taiwan in early May before heading to Singapore, set to arrive early next week.</li><li>Cargo loadings from Taiwan in early May remained below levels in the first ten days of April.</li><li>Singapore took delivery in the past week of the first cargo from Saudi Arabia since November 2025.</li></ul>

Cargo of Group II light and heavy grades loaded from Taiwan in early May before heading to Singapore, set to arrive early next week.Cargo loadings from Taiwan in early May remained below levels in the first ten days of April.Singapore took delivery in the past week of the first cargo from Saudi Arabia since November 2025.

Global Base Oils Cargo Flows: Week To 8 May

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Q4 FY26 concalls confirm five simultaneous cost shocks: bushing supply crunch, transformer oil inflation, US tariff volatility, Middle East export displacement and power-versus-distribution backlog mismatch hitting transformer manufacturers at once</li>
<li>India's transformer capacity set to nearly double to 690 GVA by FY28; the structural demand story is intact. But near-term margin compression is real as input cost escalates</li>
<li>The sector is building through a margin trough not a demand trough. Backward integration (CRGO, bushings, pressboard) is the critical differentiator for whoever emerges with structurally superior margins in FY28.</li>
</ul>


Q4 FY26 concalls confirm five simultaneous cost shocks: bushing supply crunch, transformer oil inflation, US tariff volatility, Middle East export displacement and power-versus-distribution backlog mismatch hitting transformer manufacturers at once
India's transformer capacity set to nearly double to 690 GVA by FY28; the structural demand story is intact. But near-term margin compression is real as input cost escalates
The sector is building through a margin trough not a demand trough. Backward integration (CRGO, bushings, pressboard) is the critical differentiator for whoever emerges with structurally superior margins in FY28.


Strong Order Books, Squeezed Margins: What India's Transformer Industry Is Actually Saying?

<ul><li>Cargo of Group II base oils loaded from Taiwan in past week before heading to China.</li><li>Taiwan’s total exports slowed markedly in second-half April, leaving the full-month volume well below March levels.</li><li>Small cargo of Group II heavy grades set to load from Taiwan in early May, with Southeast Asia the likely destination.</li></ul>

Cargo of Group II base oils loaded from Taiwan in past week before heading to China.Taiwan’s total exports slowed markedly in second-half April, leaving the full-month volume well below March levels.Small cargo of Group II heavy grades set to load from Taiwan in early May, with Southeast Asia the likely destination.

Global Base Oils Cargo Flows: Week To 30 April

<ul><li>Asia's strong Q1 demand absorbed available supply, limiting restocking capacity heading into the second quarter</li><li>South Korea's elevated March output and exports met peak demand — but maintenance and fuel prioritisation pointed to a marked Q2 slowdown</li><li>Taiwan and South Korean flows slowed in April, pointing to that slowdown feeding through</li></ul>

Asia's strong Q1 demand absorbed available supply, limiting restocking capacity heading into the second quarterSouth Korea's elevated March output and exports met peak demand — but maintenance and fuel prioritisation pointed to a marked Q2 slowdownTaiwan and South Korean flows slowed in April, pointing to that slowdown feeding through

Base Oils and Lubricants: Weekly Global Market Review - 30 Apr '26

<ul><li>Middle East supply tightened immediately as imports had already slumped, with lower inventories intensifying the impact of the disruptions.</li><li>West and North Africa entered the disruption period with already-thin buffers, as weaker European supply had curtailed the usual start-of-year inventory build.</li><li>Europe entered the disruption with higher Group III supply, but its reliance on the Middle East for over 30% of volumes left it facing renewed inventory pressure.</li></ul>

Middle East supply tightened immediately as imports had already slumped, with lower inventories intensifying the impact of the disruptions.West and North Africa entered the disruption period with already-thin buffers, as weaker European supply had curtailed the usual start-of-year inventory build.Europe entered the disruption with higher Group III supply, but its reliance on the Middle East for over 30% of volumes left it facing renewed inventory pressure.

Base Oils and Lubricants: Weekly Global Market Review - 24 Apr '26

India

Savita Oil Technologies is an Indian manufacturer of specialty petroleum products, including transformer oils, white oils, liquid paraffins, and automotive and industrial lubricants. The company also operates a renewable energy division with wind power plants. It is headquartered in Mumbai, Maharashtra, India, and was founded in 1961.

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Savita Oil Technologies (STEC IN)

Global Base Oils Cargo Flows: Week To 8 May

Cargo of Group II light and heavy grades loaded from Taiwan in early May before heading to Singapore, set to arrive early next week. Cargo...

Base Oil News

Strong Order Books, Squeezed Margins: What India's Transformer Industry Is Actually Saying?

Record backlogs. Collapsing margins. Five cost shocks hitting India's transformer sector at once and one backward integration race that decides...

Sudarshan Bhandari

Global Base Oils Cargo Flows: Week To 30 April

Cargo of Group II base oils loaded from Taiwan in past week before heading to China. Taiwan’s total exports slowed markedly in second-half April,...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 30 Apr '26

Asia's strong Q1 demand absorbed available supply, limiting restocking capacity heading into the second quarter South Korea's elevated March...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 24 Apr '26

Middle East supply tightened immediately as imports had already slumped, with lower inventories intensifying the impact of the...

Base Oil News

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global Base Oils Cargo Flows: Week To 8 May

Cargo of Group II light and heavy grades loaded from Taiwan in early May before heading to Singapore, set to arrive early next week. Cargo...

Base Oil News

Strong Order Books, Squeezed Margins: What India's Transformer Industry Is Actually Saying?

​Record backlogs. Collapsing margins. Five cost shocks hitting India's transformer sector at once and one backward integration race that decides...

Sudarshan Bhandari

Global Base Oils Cargo Flows: Week To 30 April

Cargo of Group II base oils loaded from Taiwan in past week before heading to China. Taiwan’s total exports slowed markedly in second-half April,...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 30 Apr '26

Asia's strong Q1 demand absorbed available supply, limiting restocking capacity heading into the second quarter South Korea's elevated March...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 24 Apr '26

Middle East supply tightened immediately as imports had already slumped, with lower inventories intensifying the impact of the...

Base Oil News

Record backlogs. Collapsing margins. Five cost shocks hitting India's transformer sector at once and one backward integration race that decides...