Brazil’s lubricating oil demand rose strongly for a second month in June as consumption of industry-related lubricants turned positive.Total lube demand of 98,610mᶟ (87,350t) in June rose by 14pc from year-earlier levels, according to IBP.The rise in demand lifted total consumption to 569,010mᶟ in first-half 2023, up 7pc from 531,150mᶟ during the same period last year.Lube demand rose even as the country’s interest rates held at a six-year high and economic growth slowed.Consumption of passenger car engine oils held firm, rising by 22pc in June.Consumption of heavy-duty engine oils (HDEO) and industrial oils also rose. Demand for those products had been much weaker over most of the past year.Demand for HDEO rose by 14pc and industrial oils by 1pc.Consumption of transformer oils also extended its unusually sharp surge for more than a year..Brazil’s May supply matches demand
Brazil’s lubricating oil demand rose strongly for a second month in June as consumption of industry-related lubricants turned positive.Total lube demand of 98,610mᶟ (87,350t) in June rose by 14pc from year-earlier levels, according to IBP.The rise in demand lifted total consumption to 569,010mᶟ in first-half 2023, up 7pc from 531,150mᶟ during the same period last year.Lube demand rose even as the country’s interest rates held at a six-year high and economic growth slowed.Consumption of passenger car engine oils held firm, rising by 22pc in June.Consumption of heavy-duty engine oils (HDEO) and industrial oils also rose. Demand for those products had been much weaker over most of the past year.Demand for HDEO rose by 14pc and industrial oils by 1pc.Consumption of transformer oils also extended its unusually sharp surge for more than a year..Brazil’s May supply matches demand
