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>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

<ul><li>Global base oils prices mostly extend rise vs feedstock/competing fuel prices.</li><li>Sustained price-strength for most grades points to tight supply-demand fundamentals.</li><li>Price-strength incentivizes refiners to maintain or raise output.</li></ul>

Global base oils prices mostly extend rise vs feedstock/competing fuel prices.Sustained price-strength for most grades points to tight supply-demand fundamentals.Price-strength incentivizes refiners to maintain or raise output.

Global base oils margins outlook: Week of 12 May

<ul><li>Asia’s Group II base oils prices hold in relatively narrow range relative to US export prices, especially for heavy grades.</li><li>Steady price levels leave arbitrage from Asia to Americas hard to work, pointing to limited surplus supply.</li><li>US Group II light-grade export prices hold in narrow range or strengthen relative to CFR India prices since start of Q2 2025.</li></ul>

Asia’s Group II base oils prices hold in relatively narrow range relative to US export prices, especially for heavy grades.Steady price levels leave arbitrage from Asia to Americas hard to work, pointing to limited surplus supply.US Group II light-grade export prices hold in narrow range or strengthen relative to CFR India prices since start of Q2 2025.

Global base oils arb outlook: Week of 12 May

Thailand

Thai Oil Public Company Limited is an oil refinery company. The Company imports crude oil and refines it into gasoline.  It also produces oil related products including liquefied petroleum gas (LPG), kerosene, fuel oil and chemicals. Thai oil supplies its products to domestic market where its major customers include Shell, Caltex Oil and the Petroleum Authority of Thailand.

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Thai Oil (TOP-R TB)

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

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

Global base oils margins outlook: Week of 12 May

Global base oils prices mostly extend rise vs feedstock/competing fuel prices. Sustained price-strength for most grades points to tight...

Base Oil News

Global base oils arb outlook: Week of 12 May

Asia’s Group II base oils prices hold in relatively narrow range relative to US export prices, especially for heavy grades. Steady price levels...

Base Oil News

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52-week Range

Market Cap (USDm)

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