India’s June lube demand rises

India’s lubricating oil demand rose in June for the first time in five months amid healthy industrial and services activity in the country.

Lube demand of 321,000t in June rose from a revised 292,000t the previous month and by 10pc from year-earlier levels, government data showed.

The rise in demand contrasted with weaker-than-expected lube consumption in China and signs of a more muted slowdown in demand in southeast Asia.

Total lube consumption of 887,000t in the second quarter fell from 1.14mn t during the first three months of the year.

The seasonal fall in demand from the first quarter contrasted with a rise in base oils imports during the same period.