Global Group III Base Oils Imports From Middle East Fall In Feb

Global imports of Group III base oils from the Middle East fell to a three-month low in February, ahead of a pause in regional shipments at end-February that tightened global premium-grade availability.

The US, Europe and Asia imported more than 180,000 tonnes from Qatar, Bahrain and the UAE in February, Census Bureau, Eurostat, Enterprise Singapore and other government and shipping data showed.

The volume fell from more than 290,000 tonnes in January and from typical monthly levels of around 215,000 tonnes in 2025.

The slowdown preceded a further decline in shipments over the coming months following the pause in Middle East exports since end-February.

Key Highlights

·         Qatar remained the largest source of supplies for all three regions, accounting for 60% of total shipments in February.

·         Asia accounted for 42% of total imports from Qatar, matching typical levels in recent years and remaining the largest destination for Qatari supplies.

·         The US increased its share of UAE shipments to more than 70% in the three months to February, up from more than 55% in 2025 and 43% in 2024.

·         Europe accounted for a larger share of Bahrain’s shipments compared with its share of flows from the UAE and Qatar.

Market Repercussions

Qatar’s outsized share of total Middle East Group III shipments magnified the impact of the ongoing disruption following the shutdown of its production in March after damage from an attack.

Asia was likely to feel the greatest impact as the destination for the largest share of Qatari supplies.

The US was positioned to benefit most from any recovery in UAE shipments, especially if volumes rose above typical levels and offset part of the loss from Qatar.

A recovery in Bahrain flows would primarily support supply in Europe and the US, with a more limited effect on Asia.