August 2025 Witness a Fall in Base Oil Prices in Singapore After Completion of Turnaround

Rene Swann 22-Aug-2025

Singapore base oil prices are declining in August 2025 due to plant restarts across Asia, a 4% drop in crude oil feedstock costs, and reduced export demand following a 25% US tariff. ExxonMobil has begun startup of its Singapore Resid Upgrade, adding 20,054 bbl/d of Group II base stocks, including the new EHC 340 MAX product, which may further pressure prices. While demand may rise later in Q3 due to seasonal lubricant needs, inquiries across Asia-Pacific are slowing. Group I supply remains tight despite recent turnarounds, though Japan plans to resume exports amid long-term refinery closures driven by green energy policies.

Singapore Base oil prices have started to decline as August **** begins after the restart of the plant shutdown within Asia. Moreover, a continuous decline in the feedstock crude oil prices by ** during August **** eased the manufacturing costs of base oil. Not only the loose supply, but the export demand has started to decline after the US *** tariff sanction.

As per ChemAnalyst, the base oil prices in Singapore are expected to remain low in the upcoming weeks. According to an ExxonMobil second-quarter **** earnings report issued on August *, ****, accompanied by earnings, the company has “commenced startup of its Singapore Resid Upgrade.”

Back in June, ExxonMobil said that it had reached mechanical completion of the project and was hoping to bring the new capacity online before the end of the year. Sources said the company was building...

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