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Market signals

Base Oils and Lubricants: Weekly Global Market Review - 27 Feb '26

Iain Pocock

  • India January imports drop to a 17-month low as Middle East shipments slump — tighter domestic supply may trigger stronger pre-season buying.

  • Asia exports to the Middle East stay elevated despite Saudi plant restart, signalling resilient demand.

  • Singapore domestic exports surge to an 11-month high, pointing to a potential regional supply shift.

  • US December exports diverge: Europe & South America up sharply; Mexico & India remain weak.

  • Latin America lubricants demand hits a two-year low, widening surplus risks into early 2026.

  • Global cargo flows show Asia-China rebound, premium-grade exports from Spain rise, and Argentina shipments resume.

Singapore’s Base Oils Exports Surge In Month To 25 February

US Dec Base Oils Imports Rebound, 2025 Shipments Hit Decade High

Italy’s January Lube Demand Rises For Eighth Month, At Slower Pace

Latin America’s December Lube Demand Falls, Surplus Widens

Europe New Car Sales Fall in January, Battery-Electric Share Rises