Europe’s lubricating oil demand fell for a seventh month in April, adding to blenders’ preference to minimize inventories.Lube consumption of around 178,500t in April fell from more than 226,000t the previous month and by 20pc from year-earlier levels, government and industry data showed.The speed of the contraction was the fastest since May 2020, when lockdowns throughout Europe slashed economic activity and lube consumption.The volume was derived from demand from seven countries in Europe, including its four largest markets.Total lube consumption of less than 799,000t in the first four months of the year fell by 11pc from more than 893,000t during the same period last year.The volume was almost the same as during the first four months of 2020.Regional refiners slashed run-rates at that time in response to a slump in motor-fuels demand..Italy’s May lube demand falls
Europe’s lubricating oil demand fell for a seventh month in April, adding to blenders’ preference to minimize inventories.Lube consumption of around 178,500t in April fell from more than 226,000t the previous month and by 20pc from year-earlier levels, government and industry data showed.The speed of the contraction was the fastest since May 2020, when lockdowns throughout Europe slashed economic activity and lube consumption.The volume was derived from demand from seven countries in Europe, including its four largest markets.Total lube consumption of less than 799,000t in the first four months of the year fell by 11pc from more than 893,000t during the same period last year.The volume was almost the same as during the first four months of 2020.Regional refiners slashed run-rates at that time in response to a slump in motor-fuels demand..Italy’s May lube demand falls
