Spain’s August lube demand rises

Spain’s lube demand rose for a third month in August, mirroring a similar recovery in Italy and highlighting the diverging consumption trends throughout Europe.

Lube demand of 26,700t in August rose by 7pc from year-earlier levels, according to CORES, which tracks the country’s energy stocks.

The pick-up in consumption lifted total demand to 277,720t in the first eight months of the year.

The volume remained 2pc down from year-earlier levels of more than 282,000t during the same period last year.

The contraction narrowed from a 4pc slowdown in the first half of the year.

The firmer lube consumption coincided with signs of still-positive economic growth in the country.