Germany’s March lube supply rises

Germany’s lubricating oil supply rose to a nine-month high in March, exceeding the size of a seasonal pick-up in demand.

The country’s lubricants production and imports combined came to 172,190t in March, up from 158,610t the previous month, government data showed.

Supply still fell by 9pc from year-earlier levels. The monthly contraction was the tenth in a row.

The surplus of supply over demand edged up to 23,810t in March. The volume was the highest in three months and second highest in nine months.

The sustained fall in supply, and the rising surplus of supply over demand, cut blenders’ requirements for base oils.

Supply of metalworking fluids slumped sharply in March from year-earlier levels. Supply of engine oils rose.