Brazil’s lubricating oil demand rose to a five-month high in August, adding to signs of stronger-than-expected economic growth in the country.Lube consumption of 105,280mᶟ (93,300t) in August rose from less than 96,000mᶟ the previous month, according to IBP.Demand had fallen in August from July in each of the previous three years.Lube demand rose by 21pc in August and for a fourth month from year-earlier levels to the highest since March.Demand exceeded the 100,000 mᶟ/month level for the third time this year. It exceeded that level once last year and twice in 2021.Rising lube demand mirrored Brazil’s stronger-than-expected economic growth this year.Economic activity is likely to get further support from another cut in the country’s interest rates this week.Demand rose strongly for industrial oils and engine oils.Industrial oils consumption rose by 15pc in August and for the second time in three months.Consumption of heavy-duty engine oils rose by 17pc, and passenger-car engine oils by 21pc. .Latam’s July lube demand rises
