Italy’s lube consumption rose in January for an eighth month, boosting base oils demand in a country facing the imminent shutdown of one of the refineries that produces the lubricant feedstock.The sustained rise in lube consumption also highlighted the contrast between a steady recovery in demand in the Mediterranean region and weak consumption in northern Europe.The trend raised the prospect of more base oils shipments moving to the Mediterranean region to cover the rise in demand and the upcoming drop in supply.Italy's lube consumption of 31,000t in January rose by 5pc from year-earlier levels, government data showed.Demand got a boost from a 6pc rise in consumption of automobile lubricants and a 5pc rise in consumption of industrial oils, especially hydraulic oils and metalworking fluids.Italy’s rising lube demand since mid-2023 contrasted with a drop in the country’s base oils production during the same period and in 2022, mostly because of extended plant maintenance work.The country’s base oils imports duly rose strongly over the last two years.Imports are likely to rise even more following the expected closure of one of the country’s two virgin Group I base oils units in the coming months.Any closure of the base oil unit in the next few months would coincide with a seasonal pick-up in lube demand in Italy and throughout Europe. .Italy’s December base oils output rises
Italy’s lube consumption rose in January for an eighth month, boosting base oils demand in a country facing the imminent shutdown of one of the refineries that produces the lubricant feedstock.The sustained rise in lube consumption also highlighted the contrast between a steady recovery in demand in the Mediterranean region and weak consumption in northern Europe.The trend raised the prospect of more base oils shipments moving to the Mediterranean region to cover the rise in demand and the upcoming drop in supply.Italy's lube consumption of 31,000t in January rose by 5pc from year-earlier levels, government data showed.Demand got a boost from a 6pc rise in consumption of automobile lubricants and a 5pc rise in consumption of industrial oils, especially hydraulic oils and metalworking fluids.Italy’s rising lube demand since mid-2023 contrasted with a drop in the country’s base oils production during the same period and in 2022, mostly because of extended plant maintenance work.The country’s base oils imports duly rose strongly over the last two years.Imports are likely to rise even more following the expected closure of one of the country’s two virgin Group I base oils units in the coming months.Any closure of the base oil unit in the next few months would coincide with a seasonal pick-up in lube demand in Italy and throughout Europe. .Italy’s December base oils output rises
