Turkeys’ Group I base oils imports climbed to a one-year high in December as a pick-up in shipments from Russia and steady flows from Egypt offset a drop in supplies from Europe.

Total Group I imports exceeded 30,000 tonnes in December, up from 26,400 tonnes in November and from less than 20,000 tonnes in each of the three months through October, Turkish Statistical Institute data showed.

Imports still fell year on year for the sixth time in seven months, reflecting a sustained slump in shipments from Europe.

The slowdown added to signs of more limited surplus supply in Europe at year-end, alongside more competitive prices in alternative export markets.

Key Highlights

·         Europe’s share of Turkey’s Group I imports fell to 27%, down from an already-low 34% in November and the lowest level in more than eight years.

·         Russia’s share, by contrast, held firm at around 43%, broadly in line with 2024 and the rest of 2025, and well above levels of around 30% in 2022 and 2023.

·         Turkey’s average import price for supplies from Italy rose to more than $1,120/tonne in December, contrasting with a fall in the average price for Russian volumes to less than $740/tonne.

·         The near-$400/tonne price-gap sustained the incentive for Turkey to use discounted imports to cover domestic requirements while maximising exports to tap higher Group I prices in international markets.

·         Turkey took delivery of additional Group I supplies from Egypt for the ninth time in ten months, with December volumes the second highest in more than a decade.

·         Fourth-quarter Group I base oils imports fell by 14% year on year, extending their slide for a fourth straight quarter.

·         Fourth-quarter premium-grade base oils imports by contrast rose by 5%, marking the second increase in three quarters and highlighting the structural shift towards higher-quality base oils.

·         Turkey’s total base oils imports fell below 595,000 tonnes in 2025, down 5% from 625,000 tonnes in 2024 and the lowest in three years.  

·         Premium grades accounted for 51% of total imports in 2025, exceeding the 50% threshold for the first time.

Market Repercussions

The sustained wave of discounted Group I cargoes from Russia to Turkey highlighted the limited availability of alternative outlets for the volumes.

Firmer prices for European supplies cut their competitiveness into Turkey.

But tighter spot availability and more attractive prices in other markets helped to offset the impact of weaker Turkish demand.

The extension of that trend in December added to signs of a smaller year-end build-up of surplus volumes in Europe compared with previous years.