France’s March lube demand rises

France’s lube demand rose in March for the first time in three months, contrasting with weaker consumption in other regional markets like Italy and Spain.

Lube demand of 52,950t in March rose by 2pc from 51,920t the same month a year earlier, according to Centre Professionel des Lubrifiants (CPL).

Even with the increase, consumption of 136,820t in the first three months of the year fell by 3pc from year-earlier levels.

Lube demand rose even amid growing signs of a slowdown in industrial activity and waning consumer confidence. Those factors had already weighed on lube consumption in other European markets.

France has shown similar signs of ebbing economic growth.

The country’s industrial production rose in March for a second month, but by less than 0.1pc. Its purchasing manufacturers’ index fell in March to a five-month low.

Car sale fell in April for an 11^th straight month.

Shrinking consumption of process oils and metal-working fluids reflected the impact of that slowdown. But there was a pick-up in demand for hydraulic oils, which account for around 40pc of total industrial lube consumption.

Demand for automobile lubricants also rose by 3p in March to 29,220t. The firmer demand coincided with improving activity in France’s services sector following the relaxation of Covid-19 restrictions.