Mexico’s October lube demand falls

Mexico’s lube demand fell in October for a sixth month, curbing further the country’s requirements for overseas base oils supplies.

Lube consumption of 53,600 kilolitres (47,500t) in October fell by 2pc from year-earlier levels, government data showed.

Total lube demand of 559,200kl in the first ten months of the year was similar to year-earlier levels as lower consumption since the second quarter balanced out stronger demand at the start of the year.

Lube demand fell even amid stronger-than-expected economic growth in Mexico so far this year.

The country’s industrial production extended its strong growth in October, while auto sales rose for a tenth month.

Rising industrial oils demand reflected that growth, with consumption rising in October for a second month.

Automobile lubricants fell by 4pc in October from year-earlier levels. The contraction was the smallest in six months.