Base Oils and Lubricants: Weekly Global Market Review - 6 Mar '26

Asia's January base oils exports rise to a 17-month high, as firm demand limits surplus build-up but leaves the market exposed to Middle East supply disruption.

South Korea's output hits a three-year high, building stocks ahead of plant maintenance and potential crude supply disruption.

Global Group III imports from the Middle East hit a six-year high in 2025, deepening reliance on supply lines now facing acute disruption.

US December demand surges for a sixth straight month, cushioning the impact of weaker exports.

Europe's Group I supply falls to a multi-year quarterly low at end-2025; Group II rebounds as a stable alternative amid Group III supply concerns.

Middle East cargoes sustain US Group III arrivals in March before a sharp April slowdown as loadings halt.