US domestic base oils and lubricating oil demand rose to a five-month high in January after refiners cut their posted prices for the first time in months.Base oils and lube demand of 3.63mn bl (510,700t) in January rose from 3.16mn bl the previous month and by 2pc from year-earlier levels, according to the EIA.Rising supply, concern about the economic outlook and expectations of lower prices cut demand at the end of last year.A drop in prices in January duly triggered a pick-up in consumption at the start of this year..US’ January base oils/lube output rises.Base Oil News stories and analysis also available on ICIS platform
