India’s April lube demand falls

India’s lubricating oil demand fell to a four-month low in April amid a seasonal dip in consumption at the beginning of the new financial year.

Lube demand of 299,000t in April fell from 437,000t in March and by 6pc from year-earlier levels, government data showed.

Demand typically peaks each year in the month of March before the end of the financial year at the end of that month.

Consumption fell in April from year-earlier levels for the twelfth time in thirteen months, extending a trend of slowing demand throughout the Asia-Pacific region.

Slower lube demand coincided with signs of steady base oils imports in April.