Base Oil Price Chart | News, Analysis and Forecast

The latest report by IMARC Group, titled "Base Oil Prices Report 2024: Price Trend, Chart, Industry Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of the Prices. This report delves into the price of base oil globally, presenting a detailed analysis, along with an informative Base Oil Price Chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts Industry dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this Price report an invaluable resource for industry stakeholders.

Base Oil Prices Last Quarter:

• United States: $1576 MT
• China: $800 MT
• Saudi Arabia: $1405 MT

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The study delves into the factors affecting base oil price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.

The report also incorporates the most recent updates from the industry, equipping stakeholders with the latest information on Industry fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

Request For a Sample Copy of the Report: https://www.imarcgroup.com/base-oil-pricing-report/requestsample

Key Highlights About the Base Oil Price Chart – Last Quarter

Modern technologies are enabling the production of high-quality base oils with superior performance characteristics. Group II and Group III base oils, which offer higher purity and better performance compared to Group I base oils, have seen increased adoption. This shift is largely driven by the need for lubricants that can meet stringent performance requirements, such as better oxidation stability and lower volatility. The development of synthetic base oils, including polyalphaolefins (PAO) and esters, represents another significant technological trend. Synthetic base oils provide enhanced performance in extreme temperatures and high-stress conditions, making them ideal for applications in aerospace, automotive, and industrial machinery. As a result, there is a high preference for synthetic and semi-synthetic lubricants. Sustainability and the circular economy are supporting market growth. There is a high emphasis on reducing waste and promoting the reuse and recycling of lubricants. The concept of the circular economy, which helps to minimize wastage and maximize resource efficiency, is gaining traction in the lubricant industry.

In North America

In North America, the prices of base oil witnessed major fluctuations during the last quarter. The market was impacted by a tight supply and requirement balance of Group I and II grades, leading to a rise in base oil prices during October. Additionally, the impact of price increment for base oil in the previous month showed its reflections in November, leading to many independent lubricant manufacturers raising their product prices. The Group I segment experienced a tight spot flow due to reduced base oil output at some refineries amidst ongoing turnaround production issues. However, the US base oil market witnessed a notable drop by December, following Chevron and Motiva’s announced price decrement.

In Asia Pacific

In the Asia Pacific region, the prices of base oil faced a mixed market situation during the last quarter. During December, there was a significant drop in prices due to moderate demand and uncertainty about the downstream lubricant market. The base oil market in China experienced an increment in Group I SN and remained stable for Group II base oil during October. The requirements for various grades vary differently, with Group I SN markets experiencing an uprising consumption level, while the demand for Group II base oil was sluggish during December.

In Europe

the price of base oil experienced a bullish trend during the last quarter. Despite the requirement remaining low due to seasonal slowdown, holiday closures, and high borrowing costs, the supply of base oil persisted highly due to reduced production in other regions, shifting priorities, global market dynamics, and high inventory levels during October. However, at the beginning of November, the market was affected by several factors, including the recent price hike by ExxonMobil in Europe that raised Group I base oil prices to record highs, causing a rise in prices in Germany, Netherlands, and Belgium. Additionally, the European-based oil market witnessed some strange scenarios of short supply for API Group I grades, which created a gap and let the blenders choose light Group II base oil as an alternative.

Regional Price Analysis:

• Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
• Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
• North America: United States and Canada
• Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
• Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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