Latin America’s lube demand is likely to hold firmer than expected in the fourth quarter of the year before extending its rise in the first three months of 2024.The region’s lube demand is forecast to rise to more than 550,000t in the first three months of 2024, up from less than 540,000t in the fourth quarter of this year, according to the Baseoilnews short-term outlook.The last time that lube demand exceeded the 550,000t level was in the first quarter of 2021. It slowed to less than 500,000t during the first three months of 2022 before recovering to more than 520,000t in the first quarter of this year.Demand is forecast to hold relatively steady in the fourth quarter of this year compared with the previous three months amid a sustained rise in consumption in Brazil.The region's demand had previously been expected to fall in the final three months of the year from the third quarter..Latin America’s Sept lube demand falls
Latin America’s lube demand is likely to hold firmer than expected in the fourth quarter of the year before extending its rise in the first three months of 2024.The region’s lube demand is forecast to rise to more than 550,000t in the first three months of 2024, up from less than 540,000t in the fourth quarter of this year, according to the Baseoilnews short-term outlook.The last time that lube demand exceeded the 550,000t level was in the first quarter of 2021. It slowed to less than 500,000t during the first three months of 2022 before recovering to more than 520,000t in the first quarter of this year.Demand is forecast to hold relatively steady in the fourth quarter of this year compared with the previous three months amid a sustained rise in consumption in Brazil.The region's demand had previously been expected to fall in the final three months of the year from the third quarter..Latin America’s Sept lube demand falls