Italy’s lubricating oil consumption rose in March for the first time in eight months, raising the prospect of a more widespread recovery in Europe’s lube demand at the end of the first quarter.That recovery could now be short-lived as the imposition of US tariffs in April upend business plans and economic growth expectations.Signs of a more sustained recovery in Europe's lube consumption would incentivize blenders to hold larger inventories of lubricants and feedstock base oils supplies.Uncertainty about the outlook for economic growth and lube consumption instead increased the attraction for blenders to maintain lower stocks.Such moves raised the prospect of at least slowing, if not reversing, a recovery in consumption.Italy’s lube consumption of 34,400 tonnes in March rose by 5% from year-earlier levels, government data showed. The increase was the first since last July..Demand revived on the back of a 9% rise in consumption of automobile lubricants, including a 24% rise in consumption of passenger car motor oils.Industrial oils demand rose by 1% in March and for the first time in thirteen months.Italy’s lube consumption is a useful bellwether for the state of lube demand in Europe’s key markets, whose consumption data is typically released several weeks after Italy’s.A sustained recovery in Europe’s lube demand from the end of the first quarter of the year would have coincided with and magnified the impact of a seasonal pick-up in consumption.The lack of any such recovery would leave just the seasonal rise in demand to support firmer consumption during the second quarter of the year.Signs of healthy availability of most base oils grades gave blenders the flexibility to limit their inventories for now.The ready availability of supplies gave them the option of boosting their procurement volumes if a recovery in lube demand turned out to be more widespread and long-lasting..Italy's February lube demand falls.Europe’s Feb Group III supply edges up
Italy’s lubricating oil consumption rose in March for the first time in eight months, raising the prospect of a more widespread recovery in Europe’s lube demand at the end of the first quarter.That recovery could now be short-lived as the imposition of US tariffs in April upend business plans and economic growth expectations.Signs of a more sustained recovery in Europe's lube consumption would incentivize blenders to hold larger inventories of lubricants and feedstock base oils supplies.Uncertainty about the outlook for economic growth and lube consumption instead increased the attraction for blenders to maintain lower stocks.Such moves raised the prospect of at least slowing, if not reversing, a recovery in consumption.Italy’s lube consumption of 34,400 tonnes in March rose by 5% from year-earlier levels, government data showed. The increase was the first since last July..Demand revived on the back of a 9% rise in consumption of automobile lubricants, including a 24% rise in consumption of passenger car motor oils.Industrial oils demand rose by 1% in March and for the first time in thirteen months.Italy’s lube consumption is a useful bellwether for the state of lube demand in Europe’s key markets, whose consumption data is typically released several weeks after Italy’s.A sustained recovery in Europe’s lube demand from the end of the first quarter of the year would have coincided with and magnified the impact of a seasonal pick-up in consumption.The lack of any such recovery would leave just the seasonal rise in demand to support firmer consumption during the second quarter of the year.Signs of healthy availability of most base oils grades gave blenders the flexibility to limit their inventories for now.The ready availability of supplies gave them the option of boosting their procurement volumes if a recovery in lube demand turned out to be more widespread and long-lasting..Italy's February lube demand falls.Europe’s Feb Group III supply edges up
