Lube demand rises to highest since H1 2022Industrial oils demand rises at fastest pace since early 2024Rising demand could offset year-end slowdowns, accelerate inventory replenishment.Italy’s lube demand soared in October to the highest level in more than three years, hinting at a pick-up in the country’s economic and industrial activity in the fourth quarter of 2025.Total lube consumption reached 37,400 tonnes in October, marking the highest monthly figure since March 2022, government data showed..The 7% year-on-year rise was the fastest in almost two years and the fifth straight month of growth, underscoring a sustained rebound in demand.Italy’s lube consumption is a key bellwether for European lubricants demand, especially in view of the country’s early data release compared with other markets..Spain’s September lube demand falls.The October surge coincided with rising manufacturing and consumer confidence, which reached their highest levels at least since early 2025.Rising confidence and improving lube consumption followed marginal economic growth in the third quarter of 2025, as well as a fall in the country’s industrial oil consumption..Italy’s industrial oil demand broke that trend in October, with the 9% rise in consumption the fastest since early 2024.A continued uptick in lube demand could offset the size of the usual seasonal slowdown at year-end.It would also speed up blenders’ moves to trim stocks before the end of the year.The dynamic could facilitate steadier demand and faster inventory replenishment in the new year..Europe’s September base oils exports jump to eight-month high
