PODCAST: Top 5 base oils drivers to watch in 2025

Sophie Udubasceanu

30-Jan-2025

LONDON (ICIS)–In a changing financial and political landscape, the global base oils market is wavering between new capacity from the east and closely watching the US for new developments.

2025 looks set to bring new challenges and opportunities for investors.

  • Widening spread between approved and unapproved Group III material
  • Wave of new capacity, with plants particularly in Singapore and India adding competition to Group I
  • Tight supply of Brightstock and shifting spread between domestic and export volumes
  • US dollar rally making euro purchases more costly
  • Potential for US tariffs on Canada and Mexico and possible impact on crude flows

ICIS experts Samantha Wright, Mike Connolly and Sophie Udubasceanu discuss the top five drivers to watch in 2025

Base oils are used to produce finished lubes and greases for automobiles and other machinery.

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