Base Oils

Actionable reports and historical context

Reacting to capacity changes and demand shifts.

The base oils market is sensitive to downstream demand for automobiles and fuel. Upstream vacuum gas oil (VGO) and crude values are a secondary price driver.

A global demand shift from Group I to Groups II and III has led to rationalisation of capacity and increased reliance for wax on China. The use of electric vehicles is reducing demand for passenger car motor oils (PCMO). Global capacity of base oils generally exceeds demand, but supply chains can be impacted by fuel prices, cargo capacity, transportation costs, weather and natural disasters, and trade barriers. Failure of one or two production plants can affect global availability.

ICIS base oils reports are available for the Americas, North Asia, Southeast Asia (including India), and Middle East and Europe (including Russia/Baltic), and P-Wax reports are available for Asia-Pacific region, Europe, and the USA.

These reports analyse actual price levels, place market trends in a historical context and include a summary outlook. Available analytics tools include the ICIS Live Disruption Tracker and Price Optimisation Analytics. Comprehensive market intelligence and forecasts enables you to make profitable decisions.




ICIS offers actionable market news in real time for base oils and P-Wax, including scheduled/unscheduled supply interruptions. Our transparent methodology is built on comprehensive market input from buyers, sellers, and distributors.


Supply and Demand outlooks offer an informative overview of the various chemical markets, consolidated into an easy-to-use format.

Price drivers

Providing diagnostic insights to help monitor and maximise your sales opportunities. Interactive analytics help you assess trends to increase windows of opportunities.

Live disruptions tracker

A live global view of production and consumption capacity loss, plus associated conversion factors. These enable a clear understanding of supply impact in order to get ahead of market changes.

ICIS Foresight

Our analytics can help you to shape future strategies, minimise risk and maintain a
competitive advantage within commodity markets.

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Now, more than ever, dynamic insights are key to navigating complex, volatile commodity markets.

Access to expert insights on the latest industry developments and tracking market changes are vital in making sustainable business decisions.

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