Lubricating oil demand in Latin America is likely to fall less than expected in the third quarter of the year as consumption holds firmer for longer.Lube demand is likely to hold well above 500,000t in the third quarter of the year and remain above year-earlier levels in the fourth quarter, according to the Baseoilnews.com short-term outlook.Demand is still set to fall in the third quarter of the year from the previous three months. But the contraction is likely to be smaller than expected.Lube consumption is set to extend its slowdown during the fourth quarter of the year compared with the third quarter.Lube demand in Latin America held steady in the second quarter of the year, contrasting with falling consumption in other regions like Asia-Pacific and especially Europe. .Europe’s lube demand set for seasonal rise
