Germany’s February lube demand falls

Germany’s lubricating oil demand fell in February for a sixth month amid a slump in consumption of metal-working fluids.

Total lube demand of 62,490t in February fell by 21pc from 78,630t the same month a year earlier, government data showed.

Germany’s lube consumption has fallen sharply since last September even amid signs of a firmer economic recovery. Industrial production rose in February for a second month and at its fastest pace in seven months.

Like the rest of Europe, the economic recovery now faces growing pressure from rising energy costs and supply-chain bottlenecks.

Shrinking industrial-oil demand is adding to signs of a slowdown in factory activity.

Consumption of metal-working fluids fell in February for an eighth straight month and at its fastest pace in more than five years. Process-oils demand fell by 8pc, and white oils by 11pc.

Weak demand for industrial oils contrasted with firmer consumption of automobile lubricants.

Engine oil consumption rose in February for the first time in nine months. The recovery coincided with a rise in Germany’s car sales in February for a second month. But sales resumed their slide in March.