France’s February lube demand falls

France’s lubricating oil demand fell in February, contrasting with firmer consumption in Italy and Spain at the start of the year.

Lube consumption of 41,270t in February fell from 42,560t the previous month and by 2pc from year-earlier levels, according to Centre Professionel des Lubrifiants.

The drop in consumption for the eighth time in nine months curbed blenders’ urgency to replenish base oils stocks.

The sustained weakness instead incentivized them to hold back and maintain lower inventories.