ICIS price reporting for regional Base oils-Lubes markets is unparalleled in its ability to keep you on top of the information you need.
That means you can track fluctuations and developments as they happen and gain a clear understanding of the factors driving prices.
Updated to Q2 2021
Supply is expected to remain tight with Iran output showing no signs of major improvement, as producers there continue trying to sell exports of spot cargos through tenders of relatively limited volume. Domestic blending requirements and shipping problems are likely to continue restricting supply.
Demand in the UAE market for Iranian material is expected to be stable as inventories remain sufficient but downstream demand especially in automotive sales is not expected to see massive improvement. Blenders are likely to keep buying only as necessary in the face of expected further supply shortages.
Middle East Group II 150N and 500N spot supply in Q2 is expected to remain tight as some major Asian refiners have prioritised backlogged shipments for contract customers. Some flexi-bag shipments may emerge but overall spot supply from Middle Eastern producers is expected to be tight even though there are no major planned shutdowns expected in Q2.
Demand is expected to remain stable or slightly firmer in Q2 as many blenders are grappling with a lack of available spot supply and inventories are running low. Downstream demand from automotive sales may increase but sluggish economic growth prospects are expected to hamper strong demand recovery.
Middle East Group III base oils supply is expected to be stable to tight in Q2. Contract obligations to buyers in Asia and the US among major Middle Eastern refiners could still result in limited spot volumes available to buyers in the Middle East region.
Middle East Group III base oils demand is expected to be stable to firm in Q2 as blenders have resumed operations in a post-lockdown environment. Group III consumption in the Middle East likely to remain limited and largely opportunistic, but sharp gains in Group I and Group II may support Group III demand due to better perceived value.
We offer the following regional Base oils-Lubes analysis and news coverage to keep you informed of factors and developments affecting prices in the Base oils-Lubes marketplace.
News & analysis
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The main use for base oils is in the manufacture of lubricants, of which there are many thousands of types.
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ICIS price assessments are based on information gathered from a wide cross section of the market, comprising consumers, producers, traders and distributors. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments, giving you a robust reference for your negotiations.
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