The global lubricants and base oil markets have faced challenges due to technology improvements and changing standards, leading to a decline in Group I-based products. However, lower crude prices may provide temporary relief for Group I producers and boost the industry. The global economy benefits from declining oil prices, increasing base oil consumption in transportation and potentially curbing the decline in Group I base oil demand. The outlook for the global oil market is uncertain, with many factors balancing supply and demand. Some factors have permanent impacts, while others have temporary effects, and some can be controlled.
