Italy’s lube demand fell in September for the fourth time in five months, raising the prospect of the sustained fall in Europe’s lube consumption extending into the fourth quarter of the year.Italy’s lube consumption of 34,500 tonnes in September fell by 1% from year-earlier levels, government data showed.Industrial oils consumption fell by 4% and for a seventh straight month in September, outweighing a 2% rise in the country’s automobile lube demand.Total lube demand rebounded from 21,500 tonnes in August, mirroring a typical seasonal pick-up at the end of the third quarter of the year.Italy’s lube consumption is a useful bellwether for the state of Europe’s lube demand, which typically follows a similar trend to the Mediterranean country.The prospect of Europe’s lube demand staying weak at best or shrinking further in the coming months is set to coincide with a seasonal dip in consumption at the end of the year.Lower outright demand and a shrinking market incentivized Europe’s blenders to maintain low stocks and to procure smaller volumes as and when required.Signs of healthy availability of all base oils grades in the fourth quarter of the year gave blenders the additional flexibility to keep stocks at lower levels..Europe’s August lube demand falls.Italy’s August base oils stocks rise
