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>US Group II base oils price-premium to vacuum gasoil trends higher in recent weeks compared with Q1 2025, even with dip in premium in mid-May.</li><li>Group II domestic/export price premium trends higher after holding in relatively narrow range from mid-Nov 2024 to end-Q1 2025.</li><li>Narrow range contrasts with steeper fall in Group II export price-premium to VGO in Q4 2023 and Q1 2024, followed by sharper recovery from end-Q1 2024.</li></ul>

US Group II base oils price-premium to vacuum gasoil trends higher in recent weeks compared with Q1 2025, even with dip in premium in mid-May.Group II domestic/export price premium trends higher after holding in relatively narrow range from mid-Nov 2024 to end-Q1 2025.Narrow range contrasts with steeper fall in Group II export price-premium to VGO in Q4 2023 and Q1 2024, followed by sharper recovery from end-Q1 2024.

Global base oils arb outlook: Week of 19 May

<ul><li>US base oils prices slip versus feedstock prices at a time of year when they typically rise.</li><li>Dynamic highlights how lower crude/VGO prices in Q2 2025, rather than higher base oils prices, are key factor supporting higher base oils margins.</li><li>Any further drop in base oils margins would point to weakening supply-demand fundamentals.</li></ul>

US base oils prices slip versus feedstock prices at a time of year when they typically rise.Dynamic highlights how lower crude/VGO prices in Q2 2025, rather than higher base oils prices, are key factor supporting higher base oils margins.Any further drop in base oils margins would point to weakening supply-demand fundamentals.

Americas/EMEA base oils supply outlook: Week of 19 May

<ul><li>US base oils demand likely to stay muted as concern about end-user consumption and signs of sufficient supply incentivize buyers to maintain low stocks.</li><li>Expectations of steady or lower base oils prices add to attraction of holding back.</li><li>US refiner’s posted-price cut last week was first such adjustment in more than six months.</li></ul>

US base oils demand likely to stay muted as concern about end-user consumption and signs of sufficient supply incentivize buyers to maintain low stocks.Expectations of steady or lower base oils prices add to attraction of holding back.US refiner’s posted-price cut last week was first such adjustment in more than six months.

Americas/EMEA base oils demand outlook: Week of 19 May

<ul><li>Asia’s heavy-grade base oils prices hold firm versus feedstock/gasoil prices.</li><li>Asia’s Group II light-grade prices slip vs feedstock/gasoil prices faster than heavy grades and faster than Group I light grades.</li><li>Supply-demand fundamentals likely to improve for light and heavy grades in coming weeks as plant maintenance draws to a close and demand slows.</li></ul>

Asia’s heavy-grade base oils prices hold firm versus feedstock/gasoil prices.Asia’s Group II light-grade prices slip vs feedstock/gasoil prices faster than heavy grades and faster than Group I light grades.Supply-demand fundamentals likely to improve for light and heavy grades in coming weeks as plant maintenance draws to a close and demand slows.

Asia base oils supply outlook: Week of 19 May

<ul><li>Asia’s base oils demand could see earlier-than-usual seasonal slowdown in face of weak lube consumption and improving supply.</li><li>Asia’s lube demand falls at end-Q1 2025 from year-earlier levels.</li><li>Demand weakness shows signs of extending into Q2 2025 as uncertainty about US tariffs compounds signs of slowing economic growth.</li></ul>

Asia’s base oils demand could see earlier-than-usual seasonal slowdown in face of weak lube consumption and improving supply.Asia’s lube demand falls at end-Q1 2025 from year-earlier levels.Demand weakness shows signs of extending into Q2 2025 as uncertainty about US tariffs compounds signs of slowing economic growth.

Asia base oils demand outlook: Week of 19 May

United Kingdom

Shell PLC explores and refines petroleum products. The Company produces fuels, chemicals, and lubricants. Shell serves clients worldwide.

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Shell PLC (SHEL LN)

Global base oils arb outlook: Week of 19 May

US Group II base oils price-premium to vacuum gasoil trends higher in recent weeks compared with Q1 2025, even with dip in premium in...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 19 May

US base oils prices slip versus feedstock prices at a time of year when they typically rise. Dynamic highlights how lower crude/VGO prices in Q2...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 19 May

US base oils demand likely to stay muted as concern about end-user consumption and signs of sufficient supply incentivize buyers to maintain low...

Base Oil News

Asia base oils supply outlook: Week of 19 May

Asia’s heavy-grade base oils prices hold firm versus feedstock/gasoil prices. Asia’s Group II light-grade prices slip vs feedstock/gasoil prices...

Base Oil News

Asia base oils demand outlook: Week of 19 May

Asia’s base oils demand could see earlier-than-usual seasonal slowdown in face of weak lube consumption and improving supply. Asia’s lube demand...

Base Oil News

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