Europe’s lubricating oil demand is set to fall sharply at year-end before recovering at the start of next year.The size of the slowdown in December from November is likely to be smaller than last year, while the size of the pick-up in consumption at the start of the new year is also likely to be smaller.The scenario could reflect blenders’ lower and more balanced inventories this year.The lower stocks contrasted with high and high-priced inventories during second-half 2022, combined with weak demand.Lube demand is forecast to reach more than 570,000t in the fourth quarter of the year, according to the Baseoilnews.com short-term outlook.The smaller-than-expected slowdown in demand partly reflects firmer-than-expected lube consumption in markets like France in the third quarter of the year.The volume would be down from close to 590,000t during the same period in 2022.Consumption is then forecast to recover to more than 640,000t in the first three months of next year, versus around 636,000t during the first quarter of 2023..Asia’s lube demand set to rise over coming months
Europe’s lubricating oil demand is set to fall sharply at year-end before recovering at the start of next year.The size of the slowdown in December from November is likely to be smaller than last year, while the size of the pick-up in consumption at the start of the new year is also likely to be smaller.The scenario could reflect blenders’ lower and more balanced inventories this year.The lower stocks contrasted with high and high-priced inventories during second-half 2022, combined with weak demand.Lube demand is forecast to reach more than 570,000t in the fourth quarter of the year, according to the Baseoilnews.com short-term outlook.The smaller-than-expected slowdown in demand partly reflects firmer-than-expected lube consumption in markets like France in the third quarter of the year.The volume would be down from close to 590,000t during the same period in 2022.Consumption is then forecast to recover to more than 640,000t in the first three months of next year, versus around 636,000t during the first quarter of 2023..Asia’s lube demand set to rise over coming months
