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>Supply remained tighter than expected as lower exports from Singapore and Taiwan offset the seasonal slowdown in demand.</li><li>Singapore's imports climbed to a five-year high while exports stayed unusually weak, pointing to subdued domestic production.</li><li>South Korea expanded exports to both Southeast Asia and the US, cementing its role as the market's key swing supplier.</li></ul>

Supply remained tighter than expected as lower exports from Singapore and Taiwan offset the seasonal slowdown in demand.Singapore's imports climbed to a five-year high while exports stayed unusually weak, pointing to subdued domestic production.South Korea expanded exports to both Southeast Asia and the US, cementing its role as the market's key swing supplier.

Base Oils and Lubricants: Weekly Global Market Review - 17 Jul '26

<ul><li>Global surplus rebounded to its largest April level in three years.</li><li>Asia's surplus widened to a four-month high as supply continued outpacing slower demand growth.</li><li>Europe's production surplus narrowed to a six-month low as lower output tightened regional availability.</li></ul>

Global surplus rebounded to its largest April level in three years.Asia's surplus widened to a four-month high as supply continued outpacing slower demand growth.Europe's production surplus narrowed to a six-month low as lower output tightened regional availability.

Global Base Oil Surplus Widens In April As Disruption Buying Eases

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Technical Analysis

Asset World Corporation / Technical Analysis

<ul><li>The SET Index, however, only briefly weakened before rebounding into positive territory, extending its gains to a new year high.</li><li>Continued fund inflows remained a key source of support, while strong buying in banking stocks, energy, SCC, and ADVANC further boosted investor sentiment.</li><li>We expect the index to continue advancing gradually.</li></ul>

The SET Index, however, only briefly weakened before rebounding into positive territory, extending its gains to a new year high.Continued fund inflows remained a key source of support, while strong buying in banking stocks, energy, SCC, and ADVANC further boosted investor sentiment.We expect the index to continue advancing gradually.

Krungthai XSpring Technical Eng. July 14, 2026

<ul><li>The full impact of the Middle East disruption became visible across global markets as the last in-transit cargoes cleared, exposing widening shortages in premium-grade supply.</li><li>China delivered the market's strongest supply response, lifting Group III output to a 15-month high in June, but the additional production remained insufficient to replace lost Middle East volumes.</li><li>Asia's export recovery stayed constrained as weak Singapore exports offset stronger Chinese production, limiting surplus supplies available to overseas buyers.</li></ul>

The full impact of the Middle East disruption became visible across global markets as the last in-transit cargoes cleared, exposing widening shortages in premium-grade supply.China delivered the market's strongest supply response, lifting Group III output to a 15-month high in June, but the additional production remained insufficient to replace lost Middle East volumes.Asia's export recovery stayed constrained as weak Singapore exports offset stronger Chinese production, limiting surplus supplies available to overseas buyers.

Base Oils and Lubricants: Weekly Global Market Review - 10 Jul '26

<ul><li>Global supply rose for a sixth straight month from a year earlier despite easing from March's five-year high.</li><li>Asia accounted for more than 55% of global production, its highest monthly share in more than five years.</li><li>Europe's production fell to a six-month low, accounting for a larger share of the monthly decline than the Middle East.</li></ul>

Global supply rose for a sixth straight month from a year earlier despite easing from March's five-year high.Asia accounted for more than 55% of global production, its highest monthly share in more than five years.Europe's production fell to a six-month low, accounting for a larger share of the monthly decline than the Middle East.

Global Base Oils Supply Holds Firm In April Despite Middle East

Thailand

Thai Oil is Thailand's largest integrated petroleum refining and petrochemical company, operating one of Asia's most complex single-site refineries with a crude distillation capacity of 275,000 barrels per day. The company produces a wide range of refined petroleum products, petrochemicals, and lube base oil, alongside engaging in power generation and other supporting businesses. Thai Oil was founded in 1961 and is headquartered in Bangkok, Thailand.

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Thai Oil (TOP TB)

Base Oils and Lubricants: Weekly Global Market Review - 17 Jul '26

Supply remained tighter than expected as lower exports from Singapore and Taiwan offset the seasonal slowdown in demand. Singapore's imports...

Base Oil News

Global Base Oil Surplus Widens In April As Disruption Buying Eases

Global surplus rebounded to its largest April level in three years. Asia's surplus widened to a four-month high as supply continued outpacing...

Base Oil News

Krungthai XSpring Technical Eng. July 14, 2026

The SET Index, however, only briefly weakened before rebounding into positive territory, extending its gains to a new year high. Continued fund...

Krungthai XSpring

Base Oils and Lubricants: Weekly Global Market Review - 10 Jul '26

The full impact of the Middle East disruption became visible across global markets as the last in-transit cargoes cleared, exposing widening...

Base Oil News

Global Base Oils Supply Holds Firm In April Despite Middle East

Global supply rose for a sixth straight month from a year earlier despite easing from March's five-year high. Asia accounted for more than 55% of...

Base Oil News

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)