Europe’s lube demand is likely to extend a recovery in February before peaking in the month of March.The seasonal pick-up in demand is then likely to slow in the second quarter of the year.A rise in consumption in each of the first three months of this year would reduce regional blenders’ finished lubricants and base oils feedstock inventories.Blenders had already kept their stocks lower than usual in the face of weak end-user demand and plentiful base oils supplies over the past year.A seasonal pick-up in lube demand in the first quarter of the year would likely prompt moves to replenish those lower stocks.Lube demand is likely to rise to close to 630,000t in the first quarter of the year, up from less than 590,000t during the final three months of last year, according to the Baseoilnews short-term outlook.The first-quarter volume would be down slightly from around 636,000t during the same period last year.The region’s lube demand is then likely to drop by more than 40,000t in the second quarter from the first three months of the year.Europe’s lube demand fell steadily throughout most of the last two years, especially in markets like Germany and France.Demand steadied during the final three months of the year amid a lower base level the same time a year earlier as well as a sustained pick-up in consumption in southern Europe..Asia’s lube demand set to peak in March
Europe’s lube demand is likely to extend a recovery in February before peaking in the month of March.The seasonal pick-up in demand is then likely to slow in the second quarter of the year.A rise in consumption in each of the first three months of this year would reduce regional blenders’ finished lubricants and base oils feedstock inventories.Blenders had already kept their stocks lower than usual in the face of weak end-user demand and plentiful base oils supplies over the past year.A seasonal pick-up in lube demand in the first quarter of the year would likely prompt moves to replenish those lower stocks.Lube demand is likely to rise to close to 630,000t in the first quarter of the year, up from less than 590,000t during the final three months of last year, according to the Baseoilnews short-term outlook.The first-quarter volume would be down slightly from around 636,000t during the same period last year.The region’s lube demand is then likely to drop by more than 40,000t in the second quarter from the first three months of the year.Europe’s lube demand fell steadily throughout most of the last two years, especially in markets like Germany and France.Demand steadied during the final three months of the year amid a lower base level the same time a year earlier as well as a sustained pick-up in consumption in southern Europe..Asia’s lube demand set to peak in March
