Base Oil Prices Surge Amid Rising Crude Costs and Geopolitical Instability

𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 𝗕𝗮𝘀𝗲 𝗢𝗶𝗹 𝗣𝗿𝗶𝗰𝗲𝘀 𝗠𝗼𝘃𝗲𝗺𝗲𝗻𝘁 𝗟𝗮𝘀𝘁 𝗤𝘂𝗮𝗿𝘁𝗲𝗿:

𝗕𝗮𝘀𝗲 𝗢𝗶𝗹 𝗣𝗿𝗶𝗰𝗲𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗨𝗻𝗶𝘁𝗲𝗱 𝗦𝘁𝗮𝘁𝗲𝘀:

In the Q2 2024, U.S. base oil prices experienced significant volatility, averaging $1,732 per metric ton. The quarter began with a sharp decline in prices, largely due to weakened consumer confidence and the impact of high-interest rates, which reduced purchasing power and dampened demand. However, midway through the quarter, there was a brief recovery in prices, driven by improved market sentiment and a temporary rebound in economic conditions. Despite this, the positive momentum was short-lived, as prices fell again towards the end of the quarter, reflecting ongoing economic sluggishness and softening demand. This fluctuation underscored a cautious outlook for the base oil market, with uncertainties about future trends and market stability.

𝗦𝗽𝗲𝗮𝗸 𝗧𝗼 𝗔𝗻 𝗔𝗻𝗮𝗹𝘆𝘀𝘁: https://www.imarcgroup.com/request?type=report&id=22299&flag=C

𝗔𝗣𝗔𝗖 𝗕𝗮𝘀𝗲 𝗢𝗶𝗹 𝗣𝗿𝗶𝗰𝗲𝘀 𝗠𝗼𝘃𝗲𝗺𝗲𝗻𝘁 𝗟𝗮𝘀𝘁 𝗤𝘂𝗮𝗿𝘁𝗲𝗿:

𝗕𝗮𝘀𝗲 𝗢𝗶𝗹 𝗣𝗿𝗶𝗰𝗲𝘀 𝗶𝗻 𝗖𝗵𝗶𝗻𝗮:

In the Q2 2024, base oil prices in China saw a notable increase, peaking at $818 per metric ton. This rise was primarily driven by supply constraints, as production shutdowns for maintenance limited the availability of base oils. At the same time, heightened demand from key industries such as manufacturing and automotive added upward pressure on prices. Geopolitical instability further exacerbated the situation, disrupting transportation and logistics and creating additional uncertainties in the market. These combined factors fueled the consistent rise in base oil prices, highlighting the complex interaction between supply, demand, and external challenges that shaped the market trends during this period.

𝗛𝗼𝘄 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 highlights 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 behaviour and industrial needs affect overall market dynamics. By exploring the intricate relationship between supply and demand, the prices report uncovers critical factors influencing current and future prices.

𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝘁𝗼 𝗚𝗲𝘁 𝘁𝗵𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.imarcgroup.com/base-oil-pricing-report/requestsample

𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝘂𝘀:

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
𝗘𝗺𝗮𝗶𝗹: sales@imarcgroup.com
𝗧𝗲𝗹 𝗡𝗼: (𝗗) +91 120 433 0800
𝗨𝗻𝗶𝘁𝗲𝗱 𝗦𝘁𝗮𝘁𝗲𝘀: +1-631-791-1145

𝗔𝗯𝗼𝘂𝘁 𝗨𝘀:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.

This release was published on openPR.