India’s March lube demand rises

India’s lubricating oil consumption rose to a one-year high in March at a time of year when demand typically peaks.

Blenders seek to maximise sales in the month of March to meet or exceed annual sales targets before financial year-end at the end of the month.

Lube consumption of 437,000t in March rose from 348,000t the previous month, government data showed.

The volume was down 18pc from year-earlier levels and fell year-on-year for the eleventh time in twelve months.

The higher sales in March likely exceeded India’s total base oils output and imports combined.