France’s February lube demand falls

France’s lubricating oil demand fell in February for a second month amid a slowdown in consumption of a growing number of industrial oils.

Total lube consumption of 42,320t in February fell by 6pc from 45,260t during the same month a year earlier, according to Centre Professionel des Lubrifiants (CPL).

Lube demand throughout Europe has faced growing pressure as rising energy costs and supply chain issues have hindered industrial output.

France’s industrial production rose in February for the first time in five months. Its purchasing managers’ index held firm into April, especially for the services sector amid easing Covid-19 restrictions.

But the index also highlighted pressure from rising raw material costs, especially for the manufacturing sector.

The country’s lube demand fell for both automobile lubricants and for industrial oils.

The 3pc fall in automobile oils consumption was the steepest in four months. France’s 20pc fall in car sales in March was the steepest in five months.

Industrial oils demand fell by 4pc, slowing from a 7pc contraction in January. But consumption of process oils and metal-working fluids fell by more than 20pc.