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 Q3 2020
Supply is expected to increase, as Iranian production is expected to ramp up and as producers resume discussions for spot exports, following the lifting of restriction measures.
Demand in the UAE market for Iranian material is expected to increase as lockdowns and restriction measures ease. Many blenders have resumed production and traders are also noting increased demand.
Group II 150N and 500N spot supply in Q3 is expected to be stable-to-tight as some major refiners have resumed shipments for contract customers, while supply from Middle Eastern producers could likely cover any shortage of Asian product.
Demand is expected to pick up in Q3 as lockdowns and restriction measures ease, although weak downstream demand from the automotive sector could hamper significant demand recovery.
Group III base oils supply is expected to increase. A major refiner in the region resumed output following maintenance shutdown at its unit. However, given its contract obligations it remains unclear whether any significant increase in spot volumes would be made available to buyers in the region.
Group III base oils demand is expected to increase in Q3 as blenders have resumed operations and port congestion in the UAE appears to have eased, although consumption in the Middle East is likely to remain limited and largely opportunistic. No fundamental changes are expected.
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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