Base oils and waxes
Overview
As the world pivots towards decarbonisation, challenges and opportunities loom for base oils production and demand. Staying on top of this market is more important than ever to realise these opportunities and mitigate pricing risk.
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Latest base oils and waxes news
Browse the latest market moving news on the global base oils and waxes market.
India's base oil imports fall in July
India's base oil imports fall in July
Singapore, 5 October (Argus) — India imported 189,854t of base oils in July, down by 29pc on year, but up by 15pc from a near three-year low in June , data from Global Trade Tracker (GTT) show. Lower demand during the monsoon season and a wide gap between buyer and seller price expectations kept import levels lower compared with a year earlier. A rise in imports from South Korea contributed to the month-on-month increase. Supplies increased because refineries adapted to crude supply disruptions in the Middle East and secured alternative feedstock for production. But some suppliers continued to prioritise higher-priced markets, resulting in fewer cargoes being offered to India compared with the previous year. Imports from Saudi Arabia rose by 45pc on the year and remained supported ahead of shipping disruptions by the Yemen-based Houthis' blockade from the end of July. Imports from Singapore dropped by 62pc from the previous year because base oil production in the city-state was affected by disruptions to crude supplies from the Middle East. Imports from Spain were largely in line with year-earlier levels, while imports from China increased significantly on the year because of weak domestic demand and an open arbitrage window that prompted exports to India. By Chng Li Li India's base oils imports (t) Jul '26 m-o-m ± % y-o-y ± % Jan-Jul '26 y-o-y ± % South Korea 93,889 141.6 -33.4 689,658 -4.2 Saudi Arabia 22,356 9.5 45.4 130,822 9.8 Singapore 18,209 -16.6 -62.2 206,795 -21.7 US 11,165 -25.2 291.1 66,107 -15.7 Spain 9,257 NA 2.9 62,291 29.3 China 7,467 -26 3,294.1 29,563 277.8 Total* 189,854 15.3 -28.5 1,616,780 -3.1 *Total includes all countries, not just those listed Source: GTT Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Lube industry bodies need to guide sector: UEIL
Lube industry bodies need to guide sector: UEIL
Amsterdam, 1 October (Argus) — Industry bodies must keep the lubricants and base oils sector aware of risks and legislation changes, delegates heard at the Union of the European Lubricants Industry (UEIL) congress today. "We have our day-to-day blending challenges, but there's a tsunami of uncertainty with changing timelines and legislation, not to mention geopolitical tensions," said Morris Lubricants' group technical director Adrian Hill. Companies manage daily operations but the organisations are needed to help manage the risk. "You need entire departments dedicated to things such as compliance and regulation, which many smaller independent blenders just do not have the budget for," Hill said. Changing legislation implementation timelines and tweaks to regulations add to uncertainty and risk. "Penalties for non-compliance do bite and there is so much confusion and uncertainty surrounding them," said WSP policy and strategy director Lorenzo Casullo. By Echo Dai Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Europe’s industrial decline challenges lube sector
Europe’s industrial decline challenges lube sector
London, 1 October (Argus) — European de-industrialisation and Asia's narrowing technological gap with the region are the key challenges facing Europe's lubricants industry, delegates heard at the Union of the European Lubricants Industry (UEIL) congress today. Europe accounts for 16pc of the global lubricants market, making it an important but not dominant region, UEIL president Mattia Adani said. Europe's long-term de-industrialisation is weighing on lubricants demand, Adani said. The decline has been under way for 30 years, with industrial output in France, Germany and Italy still below 2018 levels. Manufacturing accounts for 14pc of European employment and 14pc of its gross domestic product, with the latter share down from 18pc in 1995. Adani also highlighted the narrowing technology gap between Europe and the rest of the world, particularly Asia, and China's rise. "Europe and the western world are losing the technological advantage they have temporarily held for the last two centuries," Adani said. Europe has also undergone a series of refinery rationalisations over the past decade that have affected the Group I base oils market. An estimated 55pc of European Group I production capacity has closed during that period, Adani said. Group I base oils are predominantly used in industrial applications. The closures have made spot prices more susceptible to supply shocks. By Gabriella Twining Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Motiva raises Group II/II+, III base oil posted prices
Motiva raises Group II/II+, III base oil posted prices
Houston, 29 September (Argus) — Motiva will raise its Group II, Group II+ and Group III posted prices again in 2026 on 1 October. Motiva will increase its Group II N100 by 35¢/USG and its N220 grades by 25¢/USG. There are no increases planned for the Group II N600 grade. The producer will also raise its Group II+ and Group III 4cst grades by 75¢/USG. Group III 6/8cst grades will increase by 50¢/USG. Motiva's last Group II increase on 1 June raised its prices by 35¢/USG across all grades. Group II+ and Group III grades were previously moved up by $1/USG on 1 September. Currently, Motiva is the only base oil refiner to announce posting changes for October. Chevron recently announced posted price increases on its Group II grades. By Karly Lamm Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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