Argentina’s lube demand fell in March for the eighth time in nine months amid a slowdown in everything from car sales to industrial production.The sharp slide in consumption incentivized blenders to cut output and minimize their lubricants and feedstock inventories.The move cut further the country’s requirements for base oils supplies both from domestic and overseas sources.The size of the drop in demand also raised the prospect of limiting any pick-up in Latin America’s lube consumption in the month of March.Argentina’s lube consumption of 17,200 cubic meters (15,200 tonnes) in March fell by 27pc from year-earlier levels, government data showed.Lube consumption peaked for the year in the month of March in each of the last two years.Demand rose by more than 21% in March from February in each of those years.Lube consumption still rose in March this year from the previous month. But the pace of the increase slowed to a 15% rise.Consumption of industrial oils fell by 18% in March and for the ninth time in ten months from year-earlier levels.The contraction mirrored a fall in Argentina’s industrial production in February for a ninth straight month.Consumption of automobile lubricants fell by 31% in March and for the sixth time in seven months.The contraction mirrored a slide in Argentina’s automobile sales and production in March for the fourth time in five months.Sliding lube consumption incentivized blenders to minimize their stocks.The country’s lube production fell faster than demand in March for a second month, reflecting that trend.The surplus of lube output over consumption duly fell in March to its lowest level in five months..Latam's Feb lube demand holds steady
Argentina’s lube demand fell in March for the eighth time in nine months amid a slowdown in everything from car sales to industrial production.The sharp slide in consumption incentivized blenders to cut output and minimize their lubricants and feedstock inventories.The move cut further the country’s requirements for base oils supplies both from domestic and overseas sources.The size of the drop in demand also raised the prospect of limiting any pick-up in Latin America’s lube consumption in the month of March.Argentina’s lube consumption of 17,200 cubic meters (15,200 tonnes) in March fell by 27pc from year-earlier levels, government data showed.Lube consumption peaked for the year in the month of March in each of the last two years.Demand rose by more than 21% in March from February in each of those years.Lube consumption still rose in March this year from the previous month. But the pace of the increase slowed to a 15% rise.Consumption of industrial oils fell by 18% in March and for the ninth time in ten months from year-earlier levels.The contraction mirrored a fall in Argentina’s industrial production in February for a ninth straight month.Consumption of automobile lubricants fell by 31% in March and for the sixth time in seven months.The contraction mirrored a slide in Argentina’s automobile sales and production in March for the fourth time in five months.Sliding lube consumption incentivized blenders to minimize their stocks.The country’s lube production fell faster than demand in March for a second month, reflecting that trend.The surplus of lube output over consumption duly fell in March to its lowest level in five months..Latam's Feb lube demand holds steady
