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.
US base oil exports fell 38pc in Feb: EIA
US base oil exports fell 38pc in Feb: EIA
Houston, 1 May (Argus) — US base oil exports in February declined by 38pc to 91,500 b/d from year-earlier levels, according to the Energy Information Administration (EIA). Monthly total exports in February rose by 11pc from January levels as base oil production remained elevated and surplus grew on increased base oil output rates in February. Exports to Mexico were down by 49pc from the same month in 2025. Monthly exports to Mexico increased by 20pc from January levels. Exports targeting Brazil rose by 35pc from year-earlier levels because a key refiner in that region was having production issues. February exports fell by 30pc from January levels. Exports to Belgium, France and the Netherlands – a proxy for European demand – were down by 60pc from February 2025 totals and by 69pc from month-earlier levels. US exports to Ecuador, Chile and Peru – a proxy for west coast South America demand – increased in February by 18pc from Februrary 2025 levels and more than quadrupled month-earlier levels. Rising exports were likely driven by less base oil production coming from Brazil due to production issues. By Karly Lamm US base oil exports b/d Countries 26-Feb m-o-m% y-o-y% Mexico 29,540 20 -49 Brazil 13,680 -30 35 Belgium 4,610 -71 -56 France 1,180 -40 -51 The Netherlands 70 -89 -96 India 70 -97 -99 Ecuador 3,180 3,185 0 Peru 1,570 156 -21 Chile 4,250 288 43 Total 91,500 11 -38 *Total includes all countries, not just those listed Energy Information Administration (EIA) Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US base oil output rises 12pc in February: EIA
US base oil output rises 12pc in February: EIA
Houston, 1 May (Argus) — US base-oil production in February rose on the year by 12pc to 157,040 b/d, according to the Energy Information Administration (EIA). Total base-oil output in February was also up by 9.4pc from January levels of 143,550 b/d. Paraffinic base-oil production increased by 14pc compared to February 2025 and by 15pc from January 2026. Elevated base-oil premiums over competing fuels, such as gasoline and diesel, incentivized refiners to keep base oil production elevated despite thin buying interest in the market. Base-oil products supplied, a proxy for demand, rose to 118,071 b/d in February, more than double year-earlier levels and up by 3.6pc from January. Naphthenic base-oil production in February declined to 18,070 b/d, down by 3.8pc from a year earlier and down by 22pc from January. By Karly Lamm US paraffinic base oil output by region b/d Regions Feb 26 Jan 26 m-o-m±% US Atlantic coast 10,860 6,970 56 US Midcontinent 8,070 7,650 5 US Gulf coast 107,210 99,680 8 US Rocky Mountains 0 0 0 US West coast 12,820 6,130 109 Paraffinic toal 138,960 120,420 15 Energy Information Administration (EIA) Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India’s base oil imports rise to five-month high in Feb
India’s base oil imports rise to five-month high in Feb
Singapore, 28 April (Argus) — India's base oil imports rose more than 80pc on the year to over 300,000t in February, the highest monthly volume since September 2025, data from Global Trade Tracker show. Stronger buying interest emerged as inventories ran low. Blenders also typically boost production to maximise sales ahead of the end of the country's fiscal year in March. Imports from key suppliers such as South Korea and the UAE more than doubled to 138,118t and 42,402t respectively in February, rising by 108pc and 116pc on the year. ( see table ) Imports from Russia and Turkey also increased significantly to 19,176t and 10,740t respectively in February. Volumes from Turkey are likely re-exports of Russian-origin Group I grades. India's Group II N150 cfr import prices averaged $793/t in February, marginally higher than the previous month. India Group II N500 cfr import prices averaged at $821/t, dropping by 1.8pc on the month because of more ample supply. Spot supply started to tighten after the start of the US-Iran War in late February because of feedstock shortages and refineries prioritized fuel production. But the impact on India was cushioned by the diversion of some cargoes originally bound for the UAE, as well as the availability of domestic supplies. By Chng Li Li India base oils imports (t) Feb'26 m-o-m ± % y-o-y ± % Jan-Feb'26 y-o-y ± % South Korea 138,118 36.4 108.4 239,346 58 UAE 42,402 283.2 116.3 53,468 47.1 Singapore 29,256.3 -10.4 30.9 61,917 9.6 Russia 19,176.4 26.3 10,748.8 22,733.3 4,989 Spain 13,348.6 53.5 NA 22,046 120.5 Taiwan 12,896 -15 24.6 28,074 15.9 Turkey 10,739.6 12.5 383.4 20,289.8 204.9 Monthly total 307,422 48 80.9 515,195.2 26.6 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.
Aster, Puraglobe explore RRBO facility in Singapore
Aster, Puraglobe explore RRBO facility in Singapore
Singapore, 27 April (Argus) — Singaporean producer Aster Chemicals and Energy and Germany-based re-refiner Puraglobe have entered into a Memorandum of Understanding (MOU) to explore the development of Singapore's first re-refined base oil (RRBO) facility. The two companies will study the feasibility of processing used motor oil into re-refined Group II, III, or III+ base oils, according to a joint press release on 24 April. The firms plan to advance joint feasibility studies on Aster's Bukom Island as the potential host site, evaluating technology integration, feedstock supply, site configuration, and the full economics of bringing this capability to market, said Andre Khor, Aster's deputy chief executive. The announcement comes as the lubricant industry increasingly embraces the use of high-quality RRBO to drive circularity and reduce emissions across its product value chain. Aster currently operates a 380,000 t/yr Group I base oil production facility in Singapore. The company announced a $71mn upgrade to its lube oil complex in December 2025 to convert refinery residue into higher value base oils, as part of its broader $155mn refinery upgrade slated for operations in 2026. Puraglobe is a major base oil recycler headquartered in Germany, processing over 225,000 t/yr of used motor oils and lubricants. By Tara Tang Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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