Lubricants Market Morning Report20260623

I. Global Market Updates

US and Iran Sign Memorandum of Understanding to Reopen Strait of Hormuz

On June 17, the US and Iran remotely signed a memorandum of understanding. The US will lift its maritime blockade, while Iran guarantees free and safe passage for merchant ships within 60 days. The reopening of the strait will ease tight global oil shipping conditions.

Iranian Military Issues New Strait Closure Warning, Contradicting Market Signals

On June 20, Khatam al-Anbiya Headquarters of Iran announced plans to close the Strait of Hormuz again, accusing the US and Israel of violating the memorandum. Conflicting signals have raised market doubts over the stability of the agreement.

OPEC: Global Oil Industry Requires USD 17.7 Trillion Investment from 2026 to 2050

OPEC released its World Oil Outlook 2050, stating total investment demand will hit USD 17.7 trillion over 2026–2050, including USD 14.5 trillion for exploration & production and USD 1.9 trillion for refining, processing and distribution.

Global Oil Prices Edge Up, WTI Recovers Above USD 77

WTI crude settled at USD 77.50 per barrel (+0.47%), and Brent crude at USD 81.30 per barrel (+0.41%). The US-Iran accord lifted oil prices from recent lows, yet geopolitical risks remain prevalent.

ExxonMobil Explores Acquisition of Australia’s Woodside Energy

ExxonMobil is evaluating potential acquisition targets including Australia’s Woodside Energy Group to expand its LNG footprint and strengthen presence across Asian markets.

II. Lubricant Industry News

The 25th Shanghai International Lubricants Exhibition Concludes Successfully

Exhibitors including Shanghai Daopu Chemical and Kossdes Jiamei showcased synthetic lubricant raw materials and cutting-edge technologies, presenting diversified lubrication solutions. The expo hosted 460 exhibitors and 28,000 visitors.

Chongqing Lubricant Market Faces Structural Differentiation with Three Types of Brands Pursuing Targeted Layouts

New market trends have emerged on both supply and demand sides in Chongqing. Retail outlets aim to introduce premium lubricant brands to boost high-margin business, while distributors demand targeted regional expansion support and operational training.

III. South American Market

Brazil Targets 30% Oil Output Growth by 2032

Brazil plans to raise domestic oil production by 30% by 2032 to rank among the world’s top five oil producers. Amid Middle East tensions pushing Asian buyers to diversify energy sources, Brazil is ramping up production capacity to seize market opportunities.

IV. African Market

Nigeria’s Q1 2026 Oil Output Hits 1.55 Million Barrels Per Day

Nigeria recorded crude production of 1.55 million bpd in the first quarter of 2026. Bonny Light crude was priced at USD 98.44 per barrel in late May, with oil & gas remaining the country’s core revenue pillar.

V. Russian Market

Russia Cuts Crude Exports to Secure Domestic Fuel Supply

Russia reduced crude shipments from western ports to 1.7 million bpd in June, lifting refinery throughput by 250,000–400,000 bpd to ease domestic fuel shortages. Ukrainian drone strikes have impaired refining capacity.

VI. South Asian Market

India’s Lubricant Market Maintains Rapid Expansion

Ranked the world’s fifth-largest lubricant market, India registers an annual growth rate of 3.7%. Industrial consumption accounts for 51% of total demand, driven mainly by power, chemical and metalworking sectors.

VII. Malaysian Market (Marine Lubricants)

Port Klang Boasts Ample Low-Sulfur Fuel Oil Supply; High-Sulfur Fuels Remain Constrained

Port Klang has sufficient ultra-low-sulfur fuel oil and low-sulfur marine diesel in stock, while supply of high-sulfur bunkers stays limited. The overall marine fuel market operates steadily.

VIII. Basic Lubricant Knowledge

Customer-Focused Popular Science: Can Lubricants Be Mixed Across Brands & Grades?

Mixing lubricants of different brands or grades is strongly discouraged. Additive packages from various manufacturers may trigger chemical reactions, weakening lubricating performance and generating excessive sediment. If mixing is unavoidable, conduct a compatibility test in advance.

Sales & Technical Training: Why HTHS Viscosity Matters

HTHS (High-Temperature High-Shear Viscosity) measures an oil’s ability to retain viscosity under 150°C high-shear operating conditions.

• Too low HTHS: insufficient high-temperature engine protection and accelerated component wear

• Too high HTHS: increased fuel consumption

The API SP specification mandates a minimum HTHS value of 2.6 mPa·s.

IX. Featured Technology

Working Mechanism & Application Scope of ZDDP Anti-Wear Additives

Key technical points:

1. ZDDP forms an iron phosphate protective film on friction surfaces

2. Dual functions of anti-wear and antioxidation

3. Phosphorus content capped at ≤0.08% under API SP standards

4. Widely applicable in engine oil and gear oil formulations

5. Compatibility with low-SAPS formulas requires targeted optimization

Advances in Detergent-Dispersant Technology: From Metallic to Ashless Types

Key technical points:

1. Metallic detergents (calcium sulfonate, calcium phenate) provide base reserve

2. Ashless dispersants (succinimide) control low-temperature sludge formation

3. Low-SAPS formulas require tight control over sulfated ash content

4. Compound additive ratios directly impact engine cleanliness

Recommended Videos

1. Brief History of Greases (Part 2)

Review the full evolution of greases from early origins to modern formulations and track advances in lubrication technology.

2. Innovation Secrets of Domestic Grease Manufacturers for Auto Components

Visit a benchmark enterprise specializing in specialty greases to explore innovative applications of home-produced greases across automotive parts.