A thermodynamics analysis was carried out on the reactions yielding low-molecular-weight oxygenates in the Fischer-Tropsch synthesis. The temperature dependence of the enthalpy, entropy and Gibbs free energy was determined for these reactions. For different values of the H-2/CO ratio in the synthesis gas, pressure and temperature, the maximum equilibrium concentrations of the various classes of oxygenates in the reaction products appear in different thermodynamic parameter regions: saturated alcohol are formed at low temperatures, while aromatic alcohols are formed at higher temperatures.