Germany’s total lube demand rose in January for the first time in more than two years.The firmer demand added to signs that a recovery in Europe’s lube consumption may be starting to extend beyond Mediterranean markets like Italy.An ongoing slide in lube demand in key markets like Germany and France kept Europe’s total consumption under pressure through most of last year even as demand revived in markets like Italy and Spain.Shrinking lube consumption cut blenders’ requirements for base oils supplies. It also incentivized them to maintain low base oils stocks, squeezing demand further.A recovery in lube demand in markets like Germany would help support a stronger revival in regional consumption and in demand for base oils to produce the lubricants. Germany’s total lube demand, or domestic consumption and exports combined, rose by 6% in January to more than 136,000 tonnes, government data showed.The increase in consumption was the first in thirty-one months as a 13% rise in lube exports countered weaker domestic demand.Demand rose to a ten-month high on the back of strong consumption of motor oils, hydraulic oils and metalworking fluids.Germany’s lube supply, or domestic production and imports combined, also revived in January, rebounding by 19% to more than 163,000 tonnes.The increase was the first in twenty months.Any extension of these supply and demand trends beyond the beginning of the year would trigger an adjustment in base oils requirements to meet the firmer fundamentals..Italy’s February lube demand rises.Spain’s January lube demand rises
