Strong cost support drives base oil prices higher post-holiday

After the holiday, base oil refiners are supported by previous orders on hand, keeping sales pressure manageable. High crude prices provide strong cost support, prompting refiners to hold firm on prices.

After the holiday, base oil refiners still have previous orders on hand, keeping sales pressure manageable. Coupled with strong cost support from crude oil, refiners show a clear willingness to hold prices firm, and some grade quotations have moved higher. China Base Oil Price Trend, 2025-2026 (Yuan/t) Source: OilChem On the cost