Mexico’s lubricating oil demand held firm in January, extending a sustained rise in the country’s lube consumption over more than a year.Lube consumption of 62,700 kilolitres (55,540t) in January fell from 63,740kl the previous month, according to Mexican chemical industry association ANIQ.Lube demand rose by 15pc from year-earlier levels, after rising every month in 2022.Strong lube demand boosted Mexico’s requirements for growing volumes of base oils for its lubricants blenders.Almost all of its base oils supplies originate from the US, which faced a large overhang of surplus volumes at the start of the year..Insight: US’ Jan base oils supply stays high
Mexico’s lubricating oil demand held firm in January, extending a sustained rise in the country’s lube consumption over more than a year.Lube consumption of 62,700 kilolitres (55,540t) in January fell from 63,740kl the previous month, according to Mexican chemical industry association ANIQ.Lube demand rose by 15pc from year-earlier levels, after rising every month in 2022.Strong lube demand boosted Mexico’s requirements for growing volumes of base oils for its lubricants blenders.Almost all of its base oils supplies originate from the US, which faced a large overhang of surplus volumes at the start of the year..Insight: US’ Jan base oils supply stays high
