Europe produces Group III base oils domestically, but a high volume of Group III base oils with various approvals is also imported into the region from all over the world. Group III base oils, with various approvals, are being priced differently in the industry by market participants. It is crucial that Group III price assessments in Europe consider this structural change in the market. 

The Argus assessment provides trusted, independent prices to overcome this challenge.  

Price assessment details

What are the advantages of the Argus Base Oils Europe Group III (a) and (b) price assessment? 

The Argus Base Oils Europe Group III (a) and (b) assessments are to date the only Group III assessments in the European market that seek to differentiate Group III base oils with different approvals. It is differentiated between the producers that carry the Volkswagen Oil Quality Standard VW 504 00/507 00 approval type (a), and those who do not carry, type (b).

With varying price dynamics for Group III base oils with different approvals, it is essential for blenders purchasing Group III base oils to use the right index to price their contracts.

How is this assessment used?

The prices are crucial for producers, exporters, importers, distributors and blenders seeking to price Group III base oils in Europe. Base oils contracts in Europe are indexed to these Argus assessments and have been since the prices were launched in April 2019.