Germany’s July lube demand falls

Germany’s lube consumption fell for a twenty-fifth month in July as slumping domestic demand for hydraulic oils countered steadier consumption of engine oils.

Total domestic and overseas lube demand of 123,000t in July fell by 17pc from year-earlier levels, government data showed. The contraction speeded up from a 14pc fall in June.

Domestic consumption of less than 50,000t fell by 16pc in July amid a slump in consumption of hydraulic oils and metal-working fluids.

The slowdown countered a rise in consumption of engine oils for the first time in five months.

Lube exports of around 73,000t fell by 18pc in July as process oils shipments fell by more than 50pc for the third time in four months.

Hydraulic oils and transformer oils exports by contrast extended their rise throughout most of this year.