Argentina’s lube demand shrank in October at its fastest pace in six months, complicating blenders’ moves to maintain low inventories.Sliding demand raised the prospect of triggering a steeper fall in Latin America’s lube consumption at the start of the fourth quarter.Argentina’s falling demand and higher-than-expected inventories also raised the prospect of postponing for longer any moves to seek replenishment base oils supplies from overseas markets.The country’s lube consumption of 17,400 cubic meters (15,400 tonnes) in October fell by 18% from year-earlier levels, government data showed.The volume was the lowest in six months, while the contraction was the twelfth in a row and the steepest since May.A slower drop in the country's lube demand in the third quarter of the year coincided with some signs of improving economic activity.Argentina’s automobile sales rose in the three months to September from year-earlier levels after falling during each of the previous three quarters.The country’s industrial production extended its slide in the third quarter but at a slower pace than in the first half of the year.The speed of the fall in lube consumption in October instead highlighted the ongoing volatility of demand even if economic activity were to improve over the coming months.The drop in demand, as well as still-high inflation, highlighted the attraction for blenders to maintain low stocks.The speed of the drop in demand in October highlighted the difficulty in achieving that goal.The country’s blenders slashed lube output in October to a six-month low.The drop in output from September was also largest month-on-month cut in a year.Even with the steep fall in output, lube production still outpaced demand in October by a larger-than-usual volume for a fourth month..Brazil’s Oct lube demand holds steady.Latin America Sept lube demand falls.US September base oil/lube exports fall
Argentina’s lube demand shrank in October at its fastest pace in six months, complicating blenders’ moves to maintain low inventories.Sliding demand raised the prospect of triggering a steeper fall in Latin America’s lube consumption at the start of the fourth quarter.Argentina’s falling demand and higher-than-expected inventories also raised the prospect of postponing for longer any moves to seek replenishment base oils supplies from overseas markets.The country’s lube consumption of 17,400 cubic meters (15,400 tonnes) in October fell by 18% from year-earlier levels, government data showed.The volume was the lowest in six months, while the contraction was the twelfth in a row and the steepest since May.A slower drop in the country's lube demand in the third quarter of the year coincided with some signs of improving economic activity.Argentina’s automobile sales rose in the three months to September from year-earlier levels after falling during each of the previous three quarters.The country’s industrial production extended its slide in the third quarter but at a slower pace than in the first half of the year.The speed of the fall in lube consumption in October instead highlighted the ongoing volatility of demand even if economic activity were to improve over the coming months.The drop in demand, as well as still-high inflation, highlighted the attraction for blenders to maintain low stocks.The speed of the drop in demand in October highlighted the difficulty in achieving that goal.The country’s blenders slashed lube output in October to a six-month low.The drop in output from September was also largest month-on-month cut in a year.Even with the steep fall in output, lube production still outpaced demand in October by a larger-than-usual volume for a fourth month..Brazil’s Oct lube demand holds steady.Latin America Sept lube demand falls.US September base oil/lube exports fall
