Lubricants Market Morning Report20260706

WTI: USD 68.78/bbl | Brent: USD 71.94/bbl

Oil Prices (Jul 6): Thin trading after US Independence Day holiday, crude prices fluctuated sideways

Section 1: Global Market Trends

International crude prices edged up slightly on July 2

WTI closed at USD 68.69 per barrel

Brent settled at USD 71.80 per barrel, rising 0.32%

Jul 3, 2026

Thin market liquidity amid US Independence Day holiday, crude fluctuated

Brent crude climbed 0.54% to USD 71.94/bbl; US WTI crude rose 0.47% to USD 68.78/bbl

Jul 4, 2026

Crude prices have largely erased prior risk premiums from US-Iran tensions

WTI hovers below USD 69 per barrel; market keeps close watch on Middle East geopolitics

Jul 4, 2026

US June non-farm payroll data released, reflecting labor market performance

Employment figures shift market expectations for Fed policies, indirectly impacting oil prices

Jul 3, 2026

China National Petroleum Corporation (CNPC) releases 2026 Oil & Gas Industry Report

Forecasts average Brent crude price at USD 60–65 per barrel for 2026

Jul 1, 2026

Section 2: Lubricant Industry News

Lubricant industry faces transformation pressures

Accelerated penetration of new energy vehicles weighs on conventional lubricant market

Jul 2, 2026

Asia-Pacific accounts for 49.9% of global lubricant demand

India stands out as the fastest-growing market; global market size projected to hit USD 174.4 billion by 2029

Jul 1, 2026

Section 3: South American Market

Brazil’s annual lubricant consumption stands at around 1.23 million metric tons, accounting for over half of South America’s finished lubricant demand

Section 4: African Market

Nigeria tightens supervision on lubricant imports

Illicit lubricant imports exceed 4 million liters annually; government intensifies crackdown operations

Section 5: Russian Market

Russia’s lubricant market stages gradual recovery

Local brand Lukoil Lubricants holds over 40% market share

Section 6: South Asian Market

India’s lubricant market posts an average annual growth rate of 3.7%

Total demand is set to reach 3 million metric tons, driven by surging demand for motorcycle lubricants

Section 7: Marine Fuel Oil in Malaysia

Stable demand for marine fuel oil in Malaysia

Over 100 methanol-fueled vessels to enter service starting from 2026

Section 8: Lubricant Fundamental Knowledge

Category A: Popular Science – Selection of Engine Oil Viscosity Grades

Common SAE viscosity grades include 5W-30, 10W-40

• 'W' stands for Winter; the smaller the preceding number, the better low-temperature fluidity

• The second figure indicates high-temperature viscosity

• Always refer to vehicle owner’s manual for proper viscosity selection

Category B: Technical Brief – Functions of Lubricant Additives

1. Detergent Dispersants: Prevent carbon deposits and sludge formation

2. Antioxidants: Slow down oil oxidation and degradation

3. Anti-wear Additives: Reduce abrasion on metal contact surfaces

4. Viscosity Index Improvers: Optimize viscosity-temperature characteristics