Italy’s April lube demand falls

Italy’s lubricating oil demand fell in April for the seventh time in eight months as a drop in engine oils consumption compounded a prolonged slowdown in industrial oils demand.

Lube consumption of 29,100t in April fell from 36,700t the previous month, government data showed. The volume fell by 4pc from year-earlier levels.

Industrial oils consumption fell by 3pc in April as it shrank for a nineteenth straight month. But it was the smallest contraction during that time.

Automobile oils consumption fell by 4pc in April. The contraction was the second in the last seven months.

Automobile oils demand had held firmer than industrial oils amid strong consumption of passenger car motor oils. That support began to reverse in recent months.