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 base oils prices remain in narrow range vs feedstock prices.</li><li>Steady margins sustain incentive for refiners to maintain or raise output at time of year when demand typically starts to slow.</li><li>Persistently-steady margins and increasingly squeezed stocks in first seven months of 2025 suggest fundamentals remain balanced even with incentive to maintain higher output.</li></ul>

US base oils prices remain in narrow range vs feedstock prices.Steady margins sustain incentive for refiners to maintain or raise output at time of year when demand typically starts to slow.Persistently-steady margins and increasingly squeezed stocks in first seven months of 2025 suggest fundamentals remain balanced even with incentive to maintain higher output.

Americas/EMEA base oils supply outlook: Week of 13 October

<ul><li>Asia’s Group II base oils price-premium to Singapore gasoil holds in narrow range.</li><li>Firm gasoil premium to crude oil puts more pressure on refiners to trim light-grade supply rather than heavy grades, despite persistent surplus availability of heavy grades.</li><li>Asia’s base oils supply-surplus could face more upward pressure over coming months, even with firmer gasoil premium to crude, amid lighter round of plant-maintenance and start-up of new base oils units.</li></ul>

Asia’s Group II base oils price-premium to Singapore gasoil holds in narrow range.Firm gasoil premium to crude oil puts more pressure on refiners to trim light-grade supply rather than heavy grades, despite persistent surplus availability of heavy grades.Asia’s base oils supply-surplus could face more upward pressure over coming months, even with firmer gasoil premium to crude, amid lighter round of plant-maintenance and start-up of new base oils units.

Asia base oils supply outlook: Week of 13 October

<ul><li>Asia Group I heavy-neutrals price falls vs ex-tank UAE price since early-August to widest discount in more than two years.</li><li>Wider price-discount facilitates arbitrage to move surplus supplies from Asia to Middle East.</li><li>Asia’s surplus Group I supplies rise amid pick-up in imports from other regions like Europe, as well as recovery in output in markets like Thailand after plant-maintenance work.</li></ul>

Asia Group I heavy-neutrals price falls vs ex-tank UAE price since early-August to widest discount in more than two years.Wider price-discount facilitates arbitrage to move surplus supplies from Asia to Middle East.Asia’s surplus Group I supplies rise amid pick-up in imports from other regions like Europe, as well as recovery in output in markets like Thailand after plant-maintenance work.

Global base oils arb outlook: Week of 13 October

<ul><li>Global base oils prices mostly hold firm versus feedstock/competing fuel prices amid further drop in crude oil prices.</li><li>Mostly-steady outright base oils prices and lower crude prices cushion impact of strong gasoil premium to crude oil.</li><li>Strong gasoil crack-spread incentivizes any refinery moves to trim output levels to focus more on light grades than heavy grades.</li></ul>

Global base oils prices mostly hold firm versus feedstock/competing fuel prices amid further drop in crude oil prices.Mostly-steady outright base oils prices and lower crude prices cushion impact of strong gasoil premium to crude oil.Strong gasoil crack-spread incentivizes any refinery moves to trim output levels to focus more on light grades than heavy grades.

Global base oils margins outlook: Week of 13 October

<ul><li>Global base oils prices recover vs feedstock/gasoil prices after crude oil prices reverse recent gains.</li><li>Firmer base oils price-differentials ease pressure on refiners to trim run-rates at time of year when supply often starts to outpace demand.</li><li>Firmer price-differentials coincide with lighter round of plant-maintenance in coming weeks vs H1 2025.</li></ul>

Global base oils prices recover vs feedstock/gasoil prices after crude oil prices reverse recent gains.Firmer base oils price-differentials ease pressure on refiners to trim run-rates at time of year when supply often starts to outpace demand.Firmer price-differentials coincide with lighter round of plant-maintenance in coming weeks vs H1 2025.

Global base oils margins outlook: Week of 6 October

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)

Americas/EMEA base oils supply outlook: Week of 13 October

US base oils prices remain in narrow range vs feedstock prices. Steady margins sustain incentive for refiners to maintain or raise output at time...

Base Oil News

Asia base oils supply outlook: Week of 13 October

Asia’s Group II base oils price-premium to Singapore gasoil holds in narrow range. Firm gasoil premium to crude oil puts more pressure on refiners...

Base Oil News

Global base oils arb outlook: Week of 13 October

Asia Group I heavy-neutrals price falls vs ex-tank UAE price since early-August to widest discount in more than two years. Wider price-discount...

Base Oil News

Global base oils margins outlook: Week of 13 October

Global base oils prices mostly hold firm versus feedstock/competing fuel prices amid further drop in crude oil prices. Mostly-steady outright base...

Base Oil News

Global base oils margins outlook: Week of 6 October

Global base oils prices recover vs feedstock/gasoil prices after crude oil prices reverse recent gains. Firmer base oils price-differentials ease...

Base Oil News

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