North America Base Oil Prices Movement Q3:

Base Oil Prices in the United States:

In Q3 2024, base oil prices in the United States remained relatively stable, averaging 17,156 USD/MT by September, as a result of balanced supply and demand dynamics. While temporary disruptions in July and occasional upticks in demand caused slight fluctuations, these were largely offset by a reduction in lubricant market demand by September, maintaining overall price stability. The market demonstrated resilience, as suppliers adjusted prices carefully in response to these short-term changes, ensuring a cautious yet steady approach. Despite these brief disruptions, the broader market maintained equilibrium, as reflected in the overall consistency of Base Oil Historical Prices during the quarter.

APAC Base Oil Prices Movement Last Quarter:

Base Oil Prices in Singapore:

In Q3 2024, base oil prices in Singapore experienced a notable decline, settling at 860 USD/MT by September. This decrease was largely attributed to an oversupply in the market and weaker demand from the lubricant sector, which showed reduced activity during the period. The seasonal monsoon patterns further exacerbated the situation, disrupting logistics and discouraging imports, thereby favoring local supply. These logistical challenges, coupled with the subdued purchasing environment, kept prices under pressure. The overall market sentiment remained cautious, contributing to sustained price declines and a bearish outlook, as reflected in the Base Oil Price Forecast for the region.

Europe Base Oil Prices Movement Last Quarter:

Base Oil Prices in the Netherlands:

In Q3 2024, base oil prices in the Netherlands remained stable, reaching 1,045 USD/MT by September, supported by improved supply conditions and lower crude oil costs. The market saw a more balanced environment as earlier shipping disruptions eased, helping to restore smoother operations and deliveries. Although seasonal demand typically slowed during the summer months, the overall market managed to maintain equilibrium. These positive factors, including the moderation of external challenges, contributed to a more predictable pricing trend. As a result, the "Base Oil Price Forecast" for the region reflected a stable outlook, underpinned by favorable supply dynamics and stable crude oil prices.

MEA Base Oil Prices Movement Last Quarter:

Base Oil Prices in Saudi Arabia:

In Q3 2024, base oil prices in Saudi Arabia remained stable, reaching 1,760 USD/MT by September. This stability was primarily driven by strong demand from key sectors, supported by limited supply and strategic adjustments made by producers to meet market needs. The market experienced upward pressure in July due to supply challenges, but the seasonal slowdown in August tempered the price growth, as demand typically subsides during the summer months. Despite these fluctuations, the pricing environment remained resilient, with Saudi Arabia's steady demand and supply constraints ensuring a relatively consistent trend. The "Base Oil Historical Prices" during this period reflect a market in equilibrium, where demand and supply dynamics played a crucial role in maintaining price stability.

How the IMARC Pricing Database Can Help

The latest IMARC Group study, “Base Oil Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data 2024 Edition,” presents a detailed analysis of Base Oil price trend, offering key insights into global Base Oil market dynamics. This report includes comprehensive price charts, which trace historical data and highlight major shifts in the market.

The analysis delves into the factors driving these trends, including raw material costs, production fluctuations, and geopolitical influences. Moreover, the report examines Base Oil demand, illustrating how consumer behavior and industrial needs affect overall market dynamics. By exploring the intricate relationship between supply and demand, the price report uncovers critical factors influencing current and future prices.

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