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>Global base oils values mostly hold firm versus feedstock/competing fuel prices, even as they remain down from recent highs in Q2 2025.</li><li>Firm base oils margins coincide with strong diesel premium to crude oil that incentivizes refiners to boost output of the motor fuel.</li><li>Any such move would likely impact light-grade base oils more than heavy grades, whose firm margins incentivize refiners to maintain high output of the product.</li></ul>

Global base oils values mostly hold firm versus feedstock/competing fuel prices, even as they remain down from recent highs in Q2 2025.Firm base oils margins coincide with strong diesel premium to crude oil that incentivizes refiners to boost output of the motor fuel.Any such move would likely impact light-grade base oils more than heavy grades, whose firm margins incentivize refiners to maintain high output of the product.

Global base oils margins outlook: Week of 7 July

<ul><li>US Group II export base oils price-premium to vacuum gasoil starts Q3 2025 at slightly lower levels than at start of Q3 2024.</li><li>In Q3 2024, US base oils price premium to VGO extends rise after surging from end-Q1 2024.</li><li>US base oils price-premium to VGO extends surge in Q3 2024 even with less feasible arbitrage to outlets like Europe, Middle East and India.</li></ul>

US Group II export base oils price-premium to vacuum gasoil starts Q3 2025 at slightly lower levels than at start of Q3 2024.In Q3 2024, US base oils price premium to VGO extends rise after surging from end-Q1 2024.US base oils price-premium to VGO extends surge in Q3 2024 even with less feasible arbitrage to outlets like Europe, Middle East and India.

Global base oils arb outlook: Week of 7 July

<ul><li>Asia’s base oils price-premium to Singapore gasoil price stays at elevated levels for heavy grades, lower-than-usual levels for light grades.</li><li>Base oils margins incentivize refiners to maintain higher production levels for heavy grades, and to consider adjusting production levels for light grades.</li><li>Any such moves to maintain or adjust output would coincide with rise in regional production capacity following completion of most plant-maintenance work.</li></ul>

Asia’s base oils price-premium to Singapore gasoil price stays at elevated levels for heavy grades, lower-than-usual levels for light grades.Base oils margins incentivize refiners to maintain higher production levels for heavy grades, and to consider adjusting production levels for light grades.Any such moves to maintain or adjust output would coincide with rise in regional production capacity following completion of most plant-maintenance work.

Asia base oils supply outlook: Week of 7 July

<ul><li>Asia’s base oils demand could weaken in coming weeks amid seasonal slowdown in consumption.</li><li>Signs of more prolonged and widespread drop in regional lube consumption from year-earlier levels would magnify impact of seasonal slowdown.</li><li>Weaker demand in recent months cushions impact of tighter regional supply during that period.</li></ul>

Asia’s base oils demand could weaken in coming weeks amid seasonal slowdown in consumption.Signs of more prolonged and widespread drop in regional lube consumption from year-earlier levels would magnify impact of seasonal slowdown.Weaker demand in recent months cushions impact of tighter regional supply during that period.

Asia base oils demand outlook: Week of 7 July

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Equity Bottom-Up

<ul>
<li>An overlooked old economy sector in Asia ripe for a comeback</li>
<li>Industry dynamics will provide  a long-term tailwind for the company</li>
<li>Opportunity created by  deletion from an index and corporate restructuring</li>
</ul>


An overlooked old economy sector in Asia ripe for a comeback
Industry dynamics will provide  a long-term tailwind for the company
Opportunity created by  deletion from an index and corporate restructuring


United States

Tidewater Inc. provides offshore supply vessels and marine support services to the offshore energy exploration, development, and production industry. The Company tows and anchor-handles mobile drilling rigs and equipment, transports supplies and personnel, and supports pipe laying and other offshore construction activities.

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Tidewater (TDW US)

Global base oils margins outlook: Week of 7 July

Global base oils values mostly hold firm versus feedstock/competing fuel prices, even as they remain down from recent highs in Q2 2025. Firm base...

Base Oil News

Global base oils arb outlook: Week of 7 July

US Group II export base oils price-premium to vacuum gasoil starts Q3 2025 at slightly lower levels than at start of Q3 2024. In Q3 2024, US base...

Base Oil News

Asia base oils supply outlook: Week of 7 July

Asia’s base oils price-premium to Singapore gasoil price stays at elevated levels for heavy grades, lower-than-usual levels for light grades. Base...

Base Oil News

Asia base oils demand outlook: Week of 7 July

Asia’s base oils demand could weaken in coming weeks amid seasonal slowdown in consumption. Signs of more prolonged and widespread drop in...

Base Oil News

Seatrium – Offshore Ahoy!

An old economy sector poised for a comeback with long-term growth potential due to industry dynamics. Index deletion and corporate restructuring...

Rikki Malik

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