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>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

<ul><li>Disruption-driven stock-building unwound across major markets, improving supply availability faster than buyers had anticipated</li><li>Supply returned to surplus in markets such as Argentina as recovering production and weaker demand reversed recent shortages</li><li>Group I again demonstrated the benefits of a broader production base, contrasting with tighter Group II and especially Group III supply</li></ul>

Disruption-driven stock-building unwound across major markets, improving supply availability faster than buyers had anticipatedSupply returned to surplus in markets such as Argentina as recovering production and weaker demand reversed recent shortagesGroup I again demonstrated the benefits of a broader production base, contrasting with tighter Group II and especially Group III supply

Base Oils and Lubricants: Weekly Global Market Review - 3 July '26

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>AUCTUS PUBLICATIONS ________________________________________ Helium Evolution (HEVI CN)C; Target price of C$0.60 per share: High prices paid for lands adjacent to HEVI –The most recent Saskatchewan Crown land sale generated approximately C$16 mm from 660,598 acres, with winning bids ranging from C$2.02/acre to C$81.34/acre.</li><li>Pricing in the auction underscores the underlying value of Helium Evolution’s land position.</li><li>Parcels north of HEVI’s Fox and Abbey blocks transacted at roughly C$2/acre, while acreage to the east — where HEVI holds its largest contiguous position — cleared at materially higher levels of C$42–81/acre.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ Helium Evolution (HEVI CN)C; Target price of C$0.60 per share: High prices paid for lands adjacent to HEVI –The most recent Saskatchewan Crown land sale generated approximately C$16 mm from 660,598 acres, with winning bids ranging from C$2.02/acre to C$81.34/acre.Pricing in the auction underscores the underlying value of Helium Evolution’s land position.Parcels north of HEVI’s Fox and Abbey blocks transacted at roughly C$2/acre, while acreage to the east — where HEVI holds its largest contiguous position — cleared at materially higher levels of C$42–81/acre.

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

<ul>
<li>Energy remains one of the most structurally underowned sectors in the global universe — just 62.85% of funds invested, average weight down from 8% in 2012 to 2.23% today.</li>
<li>For the first time in years, every ownership metric is moving in the right direction — 14 new positions, 20 net buyers, and $2.79bn of estimated inflows in six months.</li>
<li>The buyer base is narrow — Value and Yield funds dominate, Growth less convinced.  Stock ownership is light, but newcomers are emerging.</li>
</ul>


Energy remains one of the most structurally underowned sectors in the global universe — just 62.85% of funds invested, average weight down from 8% in 2012 to 2.23% today.
For the first time in years, every ownership metric is moving in the right direction — 14 new positions, 20 net buyers, and $2.79bn of estimated inflows in six months.
The buyer base is narrow — Value and Yield funds dominate, Growth less convinced.  Stock ownership is light, but newcomers are emerging.


Global Energy: Short-Term Recovery or Structural Shift?

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)

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

Base Oils and Lubricants: Weekly Global Market Review - 3 July '26

Disruption-driven stock-building unwound across major markets, improving supply availability faster than buyers had anticipated Supply returned...

Base Oil News

AUCTUS ON FRIDAY - 03.07.2026

AUCTUS PUBLICATIONS ________________________________________ Helium Evolution (HEVI CN)C; Target price of C$0.60 per share: High prices paid for...

Auctus Advisors

Global Energy: Short-Term Recovery or Structural Shift?

Energy remains one of the most structurally underowned sectors in the global universe, but appetite for a larger allocation is growing

Steven Holden

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