Spain’s lube demand rose in January for an eighth month, adding to a sustained recovery in consumption in key Mediterranean markets.Rising lube demand contrasted with still-weak consumption in markets like Germany and France and highlighted the difference pace of the recovery in consumption throughout Europe.Lube blenders’ moves to maintain low finished product and feedstock inventories cushioned the impact of muted consumption in those markets where demand remained weak.The strategy increased blenders' need to replenish inventories more frequently in the regions of Europe where demand was stronger.Firmer lube demand in key markets in southern Europe could also magnify the impact of lower base oils supply in the region following the planned closure of a Group I plant in Italy.Spain’s lube consumption of 35,200t in January rose from 28,800t in December and by 11pc from year-earlier levels, according to CORES, which tracks the country’s energy stocks.The volume was the highest for the month of January in five years.Portugal’s lube consumption of more than 6,000t in January rose by 11pc from year-earlier levels, government and industry data showed..Italy’s January lube demand rises
Spain’s lube demand rose in January for an eighth month, adding to a sustained recovery in consumption in key Mediterranean markets.Rising lube demand contrasted with still-weak consumption in markets like Germany and France and highlighted the difference pace of the recovery in consumption throughout Europe.Lube blenders’ moves to maintain low finished product and feedstock inventories cushioned the impact of muted consumption in those markets where demand remained weak.The strategy increased blenders' need to replenish inventories more frequently in the regions of Europe where demand was stronger.Firmer lube demand in key markets in southern Europe could also magnify the impact of lower base oils supply in the region following the planned closure of a Group I plant in Italy.Spain’s lube consumption of 35,200t in January rose from 28,800t in December and by 11pc from year-earlier levels, according to CORES, which tracks the country’s energy stocks.The volume was the highest for the month of January in five years.Portugal’s lube consumption of more than 6,000t in January rose by 11pc from year-earlier levels, government and industry data showed..Italy’s January lube demand rises
