EMEA Base Oil Price Report 23.03.21

EMEA Base Oil Price Report 23.03.21

European, Middle Eastern and African base oil markets were rocked by large price hikes caused mainly by a lack of available products for blenders and traders. Relationships between buyers and sellers have become all important in maintaining supplies on agreed terms and under contract. Spot supplies are something of a rarity these days, with some trades being booked up to three months in advance and values being index linked to trade reports.

Most affected were the API Group I camp, with reports of sellers declaring zero availability of most of the grades through April and now into May and June. Prices rose dramatically over the past two weeks, with one of the basic problems being when blenders committed to supply finished lubricants at agreed prices back some weeks or even months ago. These operations are now faced with purchase prices that have more than doubled in some cases, leading to re-negotiations and force majeure declared in situations where no, or little material, is to be found. read more

EMEA Base Oil Price Report March 9, 2021

EMEA Base Oil Price Report 03.09.21

Base oil markets in Europe, the Middle East and Africa are lurching from one problem to another, with supply issues increasing exponentially as availability of various grades tightens. Shortages of some grades have now become a reality, with some buyers, particularly in the export markets, unable to lay hands on quantities needed to cover urgent requirements.

This is especially the case for API Group I requirements going into markets such as West Africa, the Middle East Gulf and the West Coast of India, where receivers are desperately looking to find suitable parcels but in more than one instance are coming up empty. Traditional sources such as the United States Gulf Coast, the Mediterranean and Northwestern Europe are all basically dry and offer few prospects for relief over the next few months. read more