Month: November 2021

EMEA Base Oil Price Report 16.11.21

Base oil demand is unseasonably strong in some parts of Europe, the Middle East and Africa, while trading in others is slowing as it typically does at this time of year. Activity in the main markets of Europe and the Middle East Gulf is weakening overall, but some exceptionally large base oil parcels have been witnessed moving into and out of these regions.

A recent spike in API Group I prices appears to have petered out, and values for this category have slipped almost across the board since our previous report. Group II levels have also come under more sustained pressure, falling from the heights attained during the summer and early autumn, though less sharply than the decreases for Group I. read more

EMEA Base Oil Price Report 02.11.21

European, Middle Eastern and African base oil markets are mixed this week, with prices continuing to weaken in some regions whilst appearing stable in others. With the end of the year fast approaching, procurement in most markets is slowing as blenders and resellers look to reduce inventories as much as possible.

API Group I oils have seen the strangest moves in some areas. This group of base oils saw record high prices just before summer, and then prices crashed as availabilities improved following maintenance turnarounds at some refineries and the start of a lower demand cycle. Prices fell steeply, and when raw material costs rose some base oil values were below breakeven levels, leading producers to raise prices again. This situation is by no means universal, since some sellers are still keen to move large slugs of Group I grades, particularly into export destinations. To this end, large discounts and low prices are still around the markets and can be negotiated with some suppliers. read more