Mexico’s Feb lube demand holds firm

Mexico’s lubricating oil consumption fell to a three-month low in February amid weaker demand for heavy-duty engine oils.

Demand extended its rise from year-earlier levels for more than fifteen months.

Lube consumption of 60,530 kilolitres (53,620t) in February fell from 62,700kl the previous month, according to Mexican chemical industry association ANIQ.

Demand rose by 12pc in February from year-earlier levels and by 13pc in the first two months of the year.

The strong rise in demand still lagged the surge in US base oils exports to the country in the first quarter of the year.