Lube demand in France and Spain rebounded in April, reversing a sharp slowdown in consumption the previous month.The pick-up in demand in April extended to other markets like Italy and Portugal and pointed to changes in the timing of a seasonal pick-up in Europe’s lube consumption.Any extension of the rise in lube consumption in markets like France would also point to a gradual recovery in demand beyond markets in the Mediterranean region.France’s lube consumption of 40,900 tonnes in April rose by 11% from year-earlier levels and for the second time in three months, according to Centre Professionel des Lubrifiants.The rise in demand from year-earlier levels reversed a sharp contraction the previous month.Consumption of automobile lubricants rose by 9% in April and industrial oils by 13%.The country’s lube consumption rose from 39,500 tonnes in March.The last time France’s lube demand rose in the month of April from March was in 2019.Spain’s lube demand followed a similar trend.Its lube consumption of 37,900 tonnes in April rose by 25% from year-earlier levels, according to CORES, which tracks the country’s energy stocks.Consumption was also up from 34,100 tonnes in March.The last time Spain’s lube consumption was higher in the month of April than in March was eight years ago.A stronger rise in lube consumption in the month of April instead of March coincided with the restart of a key Group II base oils unit in Europe and steadier availability of Group III base oils in the region.It also coincided with the closure of a Group I base oils unit in Italy and the unexpected shutdown of a Group I plant in Spain.Europe’s domestic Group I base oils prices firmed relative to Group II and Group III prices during the second quarter of the year, reflecting the combination of stronger lube demand and tighter Group I supply..Italy’s April lube demand mixed
