This invention relates to an organic tungsten complex prepared by providing a strongly acidic tungsten precursor having pH≦2.5, and either reacting the tungsten precursor with a nitrogenous base to form a tungsten salt intermediate having a pH ranging from ≧5 to ≦8.5, and further reacting the tungsten salt intermediate with a fatty acid derivative of an alcohol, wherein the fatty acid derivative of an alcohol contains at least one free hydroxyl group; or reacting the tungsten precursor with a fatty acid derivative of an alcohol, wherein the fatty acid derivative of an alcohol contains at least one free hydroxyl group and a nitrogenous base. Further, this invention relates to lubricating compositions containing the inventive tungsten complexes.