Italy’s lube demand rose in December for a seventh month, highlighting the contrast with markets in northern Europe where lube consumption continued to fall.Even Italy’s lube demand growth showed signs of pressure amid a dip in industrial oils consumption for the first time in eight months.Any more pronounced slowdown in lube demand in southern Europe would reverse signs of steadier total lube consumption in Europe at end-2023.Concern about such a prospect would complicate refiners’ base oils supply plans.Italy’s weaker industrial oils consumption also added to the incentive for domestic blenders’ to limit their inventories to avoid the risk of an extension of that slowdown.The country’s total lube consumption of 28,300t in December rose by 2pc from year-earlier levels, government data showed.The rise in consumption lifted Italy’s total lube demand to 387,000t in 2023, up slightly from 384,000t the previous year.Demand rose in December on the back of an 8pc rise in automobile lube consumption.Higher auto lube demand outweighed a 4pc fall in industrial oils demand amid a slump in consumption of process oils..France’s November lube demand falls
Italy’s lube demand rose in December for a seventh month, highlighting the contrast with markets in northern Europe where lube consumption continued to fall.Even Italy’s lube demand growth showed signs of pressure amid a dip in industrial oils consumption for the first time in eight months.Any more pronounced slowdown in lube demand in southern Europe would reverse signs of steadier total lube consumption in Europe at end-2023.Concern about such a prospect would complicate refiners’ base oils supply plans.Italy’s weaker industrial oils consumption also added to the incentive for domestic blenders’ to limit their inventories to avoid the risk of an extension of that slowdown.The country’s total lube consumption of 28,300t in December rose by 2pc from year-earlier levels, government data showed.The rise in consumption lifted Italy’s total lube demand to 387,000t in 2023, up slightly from 384,000t the previous year.Demand rose in December on the back of an 8pc rise in automobile lube consumption.Higher auto lube demand outweighed a 4pc fall in industrial oils demand amid a slump in consumption of process oils..France’s November lube demand falls
