![Base oil, base oil everywhere, nor any drop to buy](https://klinegroup.com/wp-content/uploads/Untitled-design-5-1-150x150.png)
Base oil, base oil everywhere, nor any drop to buy
In February 2020, European Group I base oil export spot prices were in the low-mid $600/ton range between SN150 and brightstock. Today, solvent neutral cash market prices are double, and brightstocks almost triple, their levels of just a year ago.
The causes of such an explosion in base oil prices are not obvious and go beyond the confines of the base oil business itself. This paper is an attempt to rationalize the complexities.