13/04/2026
๐ช๐ต๐ฒ๐ป ๐ฐ๐ฟ๐๐ฑ๐ฒ ๐ถ๐ ๐ฐ๐ผ๐ป๐๐๐ฟ๐ฎ๐ถ๐ป๐ฒ๐ฑ, ๐ณ๐๐ฒ๐น๐ ๐ฎ๐ฟ๐ฒ ๐ฝ๐ฟ๐ถ๐ผ๐ฟ๐ถ๐๐ถ๐๐ฒ๐ฑ. ๐๐๐ฏ๐ฟ๐ถ๐ฐ๐ฎ๐ป๐๐ ๐ณ๐ฒ๐ฒ๐น ๐ถ๐ ๐ณ๐ถ๐ฟ๐๐.
If you look at the image, one thing stands out quite clearly.
From a full barrel of crude oil, most of it becomes fuel โ petrol, diesel and jet fuel โ the parts everyone watches and talks about. ๐๐๐ฏ๐ฟ๐ถ๐ฐ๐ฎ๐ป๐๐ ๐๐ถ๐ ๐ฎ๐ ๐๐ต๐ฒ ๐ฏ๐ผ๐๐๐ผ๐บ ๐ฎ๐ ๐ฟ๐ผ๐๐ด๐ต๐น๐ ๐ญโ๐ฎ% ๐ผ๐ณ ๐๐ต๐ฒ ๐ฏ๐ฎ๐ฟ๐ฟ๐ฒ๐น, and that small percentage explains much of what we are seeing in the market.
Lubricants do not come from the easy part of the barrel. They are derived from heavier fractions and require additional refining before they are usable. This makes them slower and less flexible to produce compared to fuels.
At the same time, a significant portion of the worldโs oil moves through the Strait of Hormuz. When that flow is disrupted, oil does not disappear, but it becomes harder to move, harder to replace and not always suitable for the same refining processes.
Refineries respond by shifting output toward fuels such as diesel, jet fuel and petrol because these keep economies running. As a result, less feedstock is directed into base oil production. Because lubricants represent such a small share of the barrel, even a modest shift upstream creates a disproportionate impact downstream.
This is why the market is already seeing tightening availability, increased allocation from suppliers and price movements in certain segments reaching ๐ฏ๐ฌ% ๐๐ผ ๐ญ๐ฌ๐ฌ%.
At the same time, cost pressure is building across the entire value chain. Base oils, additive packages, packaging materials and logistics are all being affected, making pricing increasingly difficult to predict and manage.
It is not a shortage of oil. It is a shortage of the right barrels, in the right refineries, producing the right products, under increasingly volatile conditions.
At Greyhound Lubricants, we continuously analyse both macro and micro market movements to interpret these shifts early and respond through a diversified global sourcing network. This allows us to remain flexible and minimise disruption for our clients in a rapidly changing environment.
When crude supply is constrained, fuels are prioritised and lubricants get squeezed.