Argus base oils annual review 2019

Base oil market prices, news and analysis

The Argus Base Oils Annual Review for seven years running has been providing key in-depth historical analysis for base oil producers, lubricant blenders and trading firms around the world. Read the review to understand market trends that happened and factors that influenced the market over the past year.

Here is a look back at some of the biggest developments in Asia-Pacific in 2019:
  • Chinese production rises: A wave of new plants began operations in China in 2019. But most of them labelled their supplies as white oils. The move dampened the impact of the rise in supplies
  • Japanese maintenance curbs supplies: Japan’s Group I producers had less spot availability because of a heavy round of plant maintenance and widespread run cuts
  • Heavy-grade prices face pressure: Group I and Group II heavy-grade prices remained unusually weak relative to light grades because of oversupply, weaker demand and firmer interest in light grades
  • Producers tap arbitrage opportunities: Regional producers moved surplus supplies to a more diverse number of outlets. The move dampened the impact of lower Chinese demand
  • Producers limit end-year surplus: Lower operating rates and regular arbitrage shipments left Asia-Pacific producers with more balanced supplies than usual at the end of 2019
This report also includes:
  • Global base oil prices in Asia-Pacific, northeast Asia, India, the UAE, Europe, Russia and the former Soviet Union (FSU) and the US
  • Maintenance and shutdowns of base oil plants
  • Market fundamentals
  • News and analysis

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