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 III 4cSt base oils price-premium to Group II light grades falls at end-July for first time in three months, before extending dip in August 2025.</li><li>Asia’s Group III 4cSt (low) price-premium to Group II light grades starts trending lower from late-June 2025.</li><li>Europe Group III 4cSt (low) price-premium to Group I and Group II light grades continues to edge higher after protracted slump since early-2023.</li></ul>

US Group III 4cSt base oils price-premium to Group II light grades falls at end-July for first time in three months, before extending dip in August 2025.Asia’s Group III 4cSt (low) price-premium to Group II light grades starts trending lower from late-June 2025.Europe Group III 4cSt (low) price-premium to Group I and Group II light grades continues to edge higher after protracted slump since early-2023.

Global base oils arb outlook: Week of 11 August

<ul><li>US Group II light-grade export-price premium to vacuum gasoil holds close to lows in Q1 2025.</li><li>Lower base oils margins and drop in outright export prices suggest recent tightness of light-grade supplies is easing.</li><li>Drop in export prices facilitates removal of any such surplus volumes, keeping fundamentals balanced for longer in domestic market.</li></ul>

US Group II light-grade export-price premium to vacuum gasoil holds close to lows in Q1 2025.Lower base oils margins and drop in outright export prices suggest recent tightness of light-grade supplies is easing.Drop in export prices facilitates removal of any such surplus volumes, keeping fundamentals balanced for longer in domestic market.

Americas/EMEA base oils supply outlook: Week of 11 August

<ul><li>US base oils demand likely to stay muted.</li><li>Expectations of growing surplus supplies boost attraction of maintaining lower stocks and procuring smaller top-up volumes more frequently.</li><li>Buyers could seek to maintain sufficient volumes to cover any supply-disruptions as market heads into time of year when Atlantic hurricane activity typically peaks.</li></ul>

US base oils demand likely to stay muted.Expectations of growing surplus supplies boost attraction of maintaining lower stocks and procuring smaller top-up volumes more frequently.Buyers could seek to maintain sufficient volumes to cover any supply-disruptions as market heads into time of year when Atlantic hurricane activity typically peaks.

Americas/EMEA base oils demand outlook: Week of 11 August

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Thematic (Sector/Industry)

<ul>
<li>ADX Energy (ADX AU)C; Target price of A$0.30 per share: High production at Z&amp;G.</li>
<li>Low risk exploration drilling in Austria to start in 4Q25/1Q26 – 2Q25 net production of 303 boe/d was higher than our expectations of ~270 boe/d following a 5 well intervention programme at the Zisterdorf and Gaiselberg fields in the Vienna Basin.</li>
<li>The programme included (1) repair of subsurface equipment, (2) clean out of a down hole sand control (3) perforation of a new oil production zone in a well.</li>
</ul>


ADX Energy (ADX AU)C; Target price of A$0.30 per share: High production at Z&amp;G.
Low risk exploration drilling in Austria to start in 4Q25/1Q26 – 2Q25 net production of 303 boe/d was higher than our expectations of ~270 boe/d following a 5 well intervention programme at the Zisterdorf and Gaiselberg fields in the Vienna Basin.
The programme included (1) repair of subsurface equipment, (2) clean out of a down hole sand control (3) perforation of a new oil production zone in a well.


<ul><li>US base oils demand likely to stay lower amid signs of healthy availability of supply.</li><li>Healthy availability of supply, buyers’ sufficient stocks and seasonal slowdown in consumption incentivize buyers to hold back.</li><li>Ongoing fall in US base oils export prices adds to signs of weaker domestic demand.</li></ul>

US base oils demand likely to stay lower amid signs of healthy availability of supply.Healthy availability of supply, buyers’ sufficient stocks and seasonal slowdown in consumption incentivize buyers to hold back.Ongoing fall in US base oils export prices adds to signs of weaker domestic demand.

Americas/EMEA base oils demand outlook: Week of 4 August

France

TotalEnergies SE operates as an energy company. The Company produces, transports, and supplies crude oil, natural gas, and low carbon electricity, as well as refines petrochemical products. TotalEnergies owns and manages gasoline filling stations worldwide.

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TotalEnergies (TTE US)

Global base oils arb outlook: Week of 11 August

US Group III 4cSt base oils price-premium to Group II light grades falls at end-July for first time in three months, before extending dip in...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 11 August

US Group II light-grade export-price premium to vacuum gasoil holds close to lows in Q1 2025. Lower base oils margins and drop in outright export...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 11 August

US base oils demand likely to stay muted. Expectations of growing surplus supplies boost attraction of maintaining lower stocks and procuring...

Base Oil News

AUCTUS ON FRIDAY - 08/08/2025

The programme included (1) repair of subsurface equipment, (2) clean out of a down hole sand control (3) perforation of a new oil production zone...

Auctus Advisors

Americas/EMEA base oils demand outlook: Week of 4 August

US base oils demand likely to stay lower amid signs of healthy availability of supply. Healthy availability of supply, buyers’ sufficient stocks...

Base Oil News

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