Germany’s June lube demand falls

Germany’s lube consumption fell in June at its slowest pace in nine months as steadier overseas demand cushioned the slide in domestic consumption.

Total domestic and overseas lube demand of 130,900t in June fell from 133,500t the previous month and by 14pc from year-earlier levels, government data showed.

The year-on-year contraction was the twenty-fourth in a row. But it was the smallest since last September.

Domestic lube demand fell by 21pc in June to 50,500t amid a slump in consumption of hydraulic oils and metal-working fluids.

Lubricants exports of more than 80,400t in June edged up from less than 78,000t in May but still fell by 8pc from year-earlier levels.

A surge in shipments of hydraulic oils cushioned a slowdown in exports of most other lubricants.