Germany’s lube demand fell in May at its slowest pace in eight months amid firm consumption of gearbox oils and a slower drop in engine oils consumption.Total domestic and overseas lube demand came to 133,470t in May, government data showed.The volume rose from 116,620t in April but fell 16pc from year-earlier levels. The contraction was the twenty-third in a row.The pace of the contraction was the slowest since September 2022.Domestic lube consumption of 55,720t in May fell by 10pc, improving from a more-than 20pc contraction in March and in April.Consumption of gearbox oils rose by 6pc in May and for a seventh straight month.Hydraulic oils demand fell by 20pc in May, improving from a 50pc slump the previous month.Lube exports of 77,750t fell by 20pc in May, improving from a 27pc contraction in April.Exports of hydraulic oils rose in May for a second month. Shipments of transformer oils rose in May for the third time in four months..Portugal’s June lube demand rebounds.Base Oil News stories and analysis also available on ICIS platform
