Thailand’s February lube demand rises

Thailand’s lubricating oil demand rose in February for the first time in six months, adding to signs of steady lube consumption in southeast Asia.

Lube consumption of 39,700 kilolitres (35,160t) in February rose from 35,440kl the previous month to the highest since last June, government data showed.

Demand rose in February by 7pc from year-earlier levels. Consumption had shrunk in each of the previous five months.

Thailand’s lube demand typically peaks in the month of March, ahead of the Songkran water festival in April.