Lube demand in Latin America extended its rise in August for the third time in four months as a jump in consumption in Brazil outweighed waning demand in other markets.Total consumption of more than 187,000t in August rose by 9pc from year-earlier levels, government data showed.The volume rose from less than 180,000t in July to a five-month high.The rise in demand lifted total lube consumption to more than 1.40mn t in the first eight months of the year, up from 1.38mn t during the same period last year.The higher demand contrasted with falling consumption in other markets like US, Europe and Asia.Demand rose in August because of a 21pc surge in Brazil’s lube consumption.The stronger demand countered a sustained slowdown in consumption in markets like Mexico, Argentina and Chile. .Brazil’s August lube demand rises.Americas/EMEA base oils - week of Oct 16: Demand outlook.Base Oil News stories and analysis also available on ICIS platform
