Argentina’s March lube demand rises

Argentina’s lubricating oil consumption rose to a one-year high in March amid a typical seasonal pick-up in demand.

Lube demand of 23,200mᶟ (20,550t) in March rose from 18,840mᶟ the previous month to the highest in a year, government data showed.

Demand still fell from year-earlier levels for the fifth time in six months, adding to signs of a slowdown in consumption in the Latin American market.

Demand fell from year-earlier levels amid a 12pc fall in industrial oils consumption.

Auto lube sales also fell, but at a slower 2pc pace.