Americas’ June lube demand falls

Lube demand in the Americas’ largest markets fell in June mostly because of lower consumption in the US.

Volatile demand in that market contrasted with steadier consumption in Latin America in June and so far this year.

Total consumption of more than 577,000t in June fell from more than 607,000t the previous month, government and industry association data showed.

The slowdown cut total consumption to 3.44mn t in first-half 2023, down 16pc from 4.08mn t during the same period last year.

Lower demand in the US accounted for all the slowdown.

Consumption of around 174,000t in Latin America in June fell from 183,000t the previous month.

Even with the slowdown, consumption of 1.06mn t in the first half of the year edged up from 1.04mn t during the same period last year.

The higher consumption contrasted with weaker demand in the US and in other markets like Europe and Asia.

The volume was derived from six countries in Latin America, including five of the region’s six largest economies.