Base Oils and Lubricants: Weekly Global Market Review - 06 Feb '26

Asia demand rising: Philippines & Vietnam imports rebounded in December, helping refiners clear surplus barrels

Indonesia Group III recovers: Exports rose as outage impacts faded; imports fell

Europe diverges: Group I supply rebounded in November, while Group II tightened on lower US and Saudi imports

US exports slump: November shipments dropped to near three-year lows

Americas under pressure: Lower US exports to Mexico coincide with falling Argentine production, partially reshaping trade flows

Global cargo shifts: Wave of shipments moved to India from Taiwan, Europe, Russia, and US