| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Base Oil | USA | FOB | USD 1,815.00/MT | May 2026 |
| Base Oil | UAE | CFR | USD 1,720.00/MT | May 2026 |
| Base Oil | Germany | FOB | USD 1,950.00/MT | May 2026 |
| Base Oil | Singapore | FOB | USD 1,590.00/MT | May 2026 |
| Base Oil | India | CFR | USD 1,535.00/MT | May 2026 |
| Base Oil | USA | FOB | USD 2,400.00/MT | April 2026 |
| Base Oil | UAE | CFR | USD 1,520.00/MT | April 2026 |
| Base Oil | Germany | FOB | USD 2,120.00/MT | April 2026 |
| Base Oil | Singapore | FOB | USD 1,850.00/MT | April 2026 |
| Base Oil | India | CFR | USD 1,650.00/MT | April 2026 |
Stay updated with the latest Base Oil prices, historical data, and tailored regional analysis
Asia
In Asia, base oil prices followed an upward trend as crude oil costs increased sharply during the quarter. The Iran conflict disrupted tanker routes through the Strait of Hormuz, increasing freight charges and insurance costs, which directly raised feedstock costs for refiners. Asian refiners faced supply constraints due to reduced crude availability and logistical delays, forcing adjustments in sourcing strategies and refinery operations. Demand from lubricants and industrial sectors remained steady, but elevated prices and supply uncertainties limited aggressive procurement, keeping the market firm but controlled.
Europe
In Europe, base oil prices rose significantly from ~0.84 EUR/kg (FD NWE) in January to ~1.21 EUR/kg in March, reflecting a ~42% increase. The rise was driven by higher crude oil prices as disrupted Gulf exports forced European buyers to compete for limited cargoes. Freight rates and insurance premiums increased due to shipping risks, raising import costs. Limited availability of crude and rerouting of LNG shipments further strained energy logistics. Buyers also secured alternative sources and long-term contracts, which tightened spot availability and supported higher base oil pricing despite moderate downstream demand.
North America
In North America, base oil prices increased from ~USD 1,782/MT (FOB Texas) in January to ~USD 1,966/MT in March, marking a ~10.33% rise. The increase was driven by higher crude oil prices, which rose from USD 64/barrel in January to USD 86/barrel in March due to geopolitical tensions and supply risks. Increased freight and insurance costs for Gulf imports added to feedstock expenses, while domestic production adjustments and reliance on strategic stockpiles helped maintain supply balance. Demand from the lubricant and industrial sectors remained stable, supporting price increases.
Analyst Insight
According to Procurement Resource, base oil prices are expected to remain firm in the near term, supported by elevated crude costs and ongoing logistical disruptions, with potential stabilization if geopolitical tensions ease.
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| Product | Category | Region | Price | Last Updated Month |
| Base Oil | Chemical | Europe | 907 USD/MT | October 2025 |
| Base Oil | Chemical | Europe | 885 USD/MT | December 2025 |
| Base Oil | Chemical | USA | 1740 USD/MT | October 2025 |
| Base Oil | Chemical | USA | 1794 USD/MT | December 2025 |
Asia
The Base Oil price trend in Asia during the fourth quarter reflected mildly weak to stable conditions, shaped by upstream cost movements and measured downstream demand. Market activity remained cautious as refiners operated with balanced run rates and buyers limited procurement to immediate requirements. Cost signals from crude oil influenced production economics, though their impact on regional pricing remained controlled due to adequate supply availability. According to the Base Oil price database, demand from lubricant blending, automotive servicing, and industrial maintenance stayed steady but lacked momentum. Export flows across the region continued at routine levels, helping prevent inventory accumulation. The Base Oil price curve indicated limited directional movement, with sellers making incremental adjustments to align with prevailing market sentiment rather than pursuing aggressive revisions. The Base Oil price graph suggested largely sideways behaviour as balanced supply-demand conditions persisted through the quarter.
Europe
In Europe, the Base Oil price trend showed a clear downward trajectory over the quarter, in line with weakening upstream sentiment and subdued consumption. The prices were about 907 USD/MT (FD NWE) in October and around 885 USD/MT in December. Prices eased progressively as oversupply concerns and declining feedstock costs weighed on producer confidence. The influence of crude oil was visible in cost structures, prompting refiners to revise offers in response to lower replacement values. According to the Base Oil price database, demand from lubricant manufacturing, industrial oils, and automotive applications softened, leading buyers to delay purchases. Import availability remained sufficient, further limiting pricing support. The Base Oil price curve reflected a consistent downward slope, while the price graph showed limited recovery attempts that failed to gain traction. Market participants focused on inventory control rather than volume expansion as the quarter progressed.
North America
North American Base Oil markets followed a mixed pattern during the quarter, characterized by early firmness followed by mild correction toward the close. The prices were about 1740 USD/MT (FOB Texas) in October and around 1794 USD/MT in December. Prices strengthened initially as downstream demand from lubricant blending and industrial applications improved modestly. Cost alignment with crude oil supported producer margins during the early phase. However, as supply availability improved and buying interest slowed, pricing momentum moderated. According to the Base Oil price database, contract-based sourcing dominated market activity, reducing spot volatility. The Base Oil price curve showed an upward movement followed by a very slight easing towards the close of the year. Inventory levels remained manageable, preventing sharp adjustments.
Base oil refers to lubrication grade oils that are derived from refining crude oil (mineral base oil) or chemical synthesis (synthetic base oil). Group II base oils contain more than 90% saturates, less than 0.3% sulphur, and have a viscosity index of 80 to 120. They are commonly produced through hydrocracking, which is a more complex process than that used for Group I base oils. Group II base oils have better antioxidation properties because all of their hydrocarbon molecules are saturated.
Rubber Manufacturing, Textiles, Blending of Engine Oils
Chevron Corporation, Exxon Mobil Corporation, Hyundai and Shell Base Oil Co., Petro-Canada Lubricant, Saudi Arabian Oil Co.
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
In this process, vacuum gas oil is used as a feedstock which is run through a hydrocracker at very high pressures. Inside the hydrocarbon, the molecules are reshaped and saturated. Sulfur is converted into hydrogen sulfide gas and nitrogen into ammonia, forming a waxy base oil containing more than 90% saturated compounds.
The second reactor is a catalytic dewaxer which converts the wax molecules to isoparaffins and causes even more saturation. Finally, the final few percent of residual aromatic compounds are saturated to form Group II base oils in a lower temperature but very high-pressure finishing step.
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This report provides the cost structure of LPG production by the petroleum refining process. In this process, the crude oil recovered is separated into oil and wet gas via a gas trap.
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