Germany’s lubricating oil production rose in April even as domestic and overseas lube demand fell.Lubricating oil production, including base oils, rose by 16pc in April to 225,000t, government data showed.Excluding base oils, lube output of 162,310t in April was up 9pc from year-earlier levels. The increase was the first in four months.The rise in production contrasted with an 8pc drop in domestic lube consumption in April and an 18pc fall in overseas lube demand..The drop in demand tallied with growing signs of an economic slowdown both in Germany and throughout Europe over the coming months.The trend suggested the rise in Germany’s lube production in April was unsustainable. Higher production and lower demand also complicated any moves to pass on higher costs to consumers by raising prices.Europe’s base oil prices have surged since early this year as tighter-than-expected supply compounded upward pressure from rising crude and diesel prices.Any subsequent slowdown in lube production would trim base oil feedstock requirements.The rise in lube output in April mostly reflected a 95pc surge in production of process oils amid a pick-up in overseas demand for the lubricants..Germany’s April lube demand falls
Germany’s lubricating oil production rose in April even as domestic and overseas lube demand fell.Lubricating oil production, including base oils, rose by 16pc in April to 225,000t, government data showed.Excluding base oils, lube output of 162,310t in April was up 9pc from year-earlier levels. The increase was the first in four months.The rise in production contrasted with an 8pc drop in domestic lube consumption in April and an 18pc fall in overseas lube demand..The drop in demand tallied with growing signs of an economic slowdown both in Germany and throughout Europe over the coming months.The trend suggested the rise in Germany’s lube production in April was unsustainable. Higher production and lower demand also complicated any moves to pass on higher costs to consumers by raising prices.Europe’s base oil prices have surged since early this year as tighter-than-expected supply compounded upward pressure from rising crude and diesel prices.Any subsequent slowdown in lube production would trim base oil feedstock requirements.The rise in lube output in April mostly reflected a 95pc surge in production of process oils amid a pick-up in overseas demand for the lubricants..Germany’s April lube demand falls
