Italy’s lube demand rose for a sixth month in November, extending a sustained recovery in consumption in the Mediterranean region.Lube consumption of 34,500t in November rose by 2pc from year-earlier levels, government data showed.Consumption of almost 359,000t in the first eleven months of the year was up 2pc from close to 353,000t during the same period a year earlier.The rise in demand reversed a 2pc contraction in consumption in the first half of the year.The sustained recovery in lube demand boosted blenders’ need to replenish base oils inventories more frequently. It also likely increased their willingness to hold larger stocks of the lubricant feedstock.A prolonged fall in Italy’s lube consumption in the year to June 2023 had previously added to blenders’ preference to maintain lower base oils inventories.The move repeated itself throughout Europe, compounding the slowdown in base oils demand.Blenders' preference to maintain lower inventories likely continued in northern European markets like Germany and France. Lube consumption continued to shrink in those countries in second-half 2023.Italy’s consumption of automobile lubricants rose by 3pc in November, and industrial oils by 1pc..Italy’s October base oils supply rises.Spain’s October lube demand rises
Italy’s lube demand rose for a sixth month in November, extending a sustained recovery in consumption in the Mediterranean region.Lube consumption of 34,500t in November rose by 2pc from year-earlier levels, government data showed.Consumption of almost 359,000t in the first eleven months of the year was up 2pc from close to 353,000t during the same period a year earlier.The rise in demand reversed a 2pc contraction in consumption in the first half of the year.The sustained recovery in lube demand boosted blenders’ need to replenish base oils inventories more frequently. It also likely increased their willingness to hold larger stocks of the lubricant feedstock.A prolonged fall in Italy’s lube consumption in the year to June 2023 had previously added to blenders’ preference to maintain lower base oils inventories.The move repeated itself throughout Europe, compounding the slowdown in base oils demand.Blenders' preference to maintain lower inventories likely continued in northern European markets like Germany and France. Lube consumption continued to shrink in those countries in second-half 2023.Italy’s consumption of automobile lubricants rose by 3pc in November, and industrial oils by 1pc..Italy’s October base oils supply rises.Spain’s October lube demand rises
