France’s lube demand rose in February for the first time in twenty-one months, extending signs that Europe’s lube consumption has steadied after a prolonged contraction.France’s lube consumption of 41,500 tonnes in February rose from less than 39,500 tonnes in January and by 4% from year-earlier levels, according to Centre Professionel des Lubrifiants (CPL).Consumption of industrial lubricants rose by 8% and automobile lubricants by 1% from year-earlier levels.Europe’s lube consumption began to revive in key Mediterranean markets like Italy and Spain from the middle of last year.Consumption in other major markets like France and Germany extended their fall through the rest of the year, curbing any significant recovery in regional demand.Europe’s muted lube consumption, weak economic growth, and high interest rates duly incentivized blenders to minimize their lubricants and feedstock inventories.Weak demand in turn countered the impact of the drop in Europe’s base oils supply over the last two years.The dynamic showed signs of changing from the start of this year.Germany’s domestic and overseas lube demand rose in January for the first time since the middle of 2021.The rise in France’s lube consumption in February added to signs that the recovery in demand has begun to extend beyond the Mediterranean region..Italy’s February lube demand rises.Germany’s Jan lube demand improves
France’s lube demand rose in February for the first time in twenty-one months, extending signs that Europe’s lube consumption has steadied after a prolonged contraction.France’s lube consumption of 41,500 tonnes in February rose from less than 39,500 tonnes in January and by 4% from year-earlier levels, according to Centre Professionel des Lubrifiants (CPL).Consumption of industrial lubricants rose by 8% and automobile lubricants by 1% from year-earlier levels.Europe’s lube consumption began to revive in key Mediterranean markets like Italy and Spain from the middle of last year.Consumption in other major markets like France and Germany extended their fall through the rest of the year, curbing any significant recovery in regional demand.Europe’s muted lube consumption, weak economic growth, and high interest rates duly incentivized blenders to minimize their lubricants and feedstock inventories.Weak demand in turn countered the impact of the drop in Europe’s base oils supply over the last two years.The dynamic showed signs of changing from the start of this year.Germany’s domestic and overseas lube demand rose in January for the first time since the middle of 2021.The rise in France’s lube consumption in February added to signs that the recovery in demand has begun to extend beyond the Mediterranean region..Italy’s February lube demand rises.Germany’s Jan lube demand improves
