Italy’s June lube demand rises

Italy’s lubricating oil demand rose in June for the first time in five months as a recovery in consumption of industrial oils continued for a second month.

Total lube demand of 33,900t in June rose by 3pc from year-earlier levels, government data showed.

The size of the 3pc fall in demand from 34,900t in May narrowed from a 7pc contraction during the same two-month period last year.

Lube demand rose in June on the back of a 3pc rise in consumption of industrial oils.

Demand for industrial oils had previously shrunk for nineteen months to April.

Demand for automobile lubricants rose by 4pc in June, after falling in each of the previous two months.

Automobile oils consumption, and especially passenger-car motor oils consumption, had been much steadier over the past year even as industrial oils demand slumped.