Portugal’s lube demand fell in August for the fifth time in six months, contrasting with signs of steadier consumption in other south European markets.Lube consumption of around 5,000t in August fell by 8pc from year-earlier levels, government and industry data showed.The slowdown cut total consumption to close to 51,000t in the first eight months of the year.The volume was down 5pc from more than 53,600t during the same period last year.The pace of the contraction was still much smaller than other markets like Germany.The steady fall in the country’s lube consumption this year still incentivized blenders to trim lubricants and base oils inventories and to procure additional feedstock supplies on a need-to basis.
