Spain’s lubricating oil demand rose in July for a second month, adding to signs of mixed consumption throughout Europe.
Lube consumption of 35,440t in July rose by 5pc from year-earlier levels, according to CORES, which tracks the country’s energy stocks.
Demand fell by 7.6pc from 38,360t in June amid a seasonal slowdown in consumption.
The month-on-month fall in consumption slowed from a 9.2pc contraction during the same period last year.
The firmer consumption lifted total lube demand to almost 251,000t in the first seven months of the year.
The volume was down 2pc from more than 257,000t during the same period last year.
Signs of a slowdown in lube demand bottoming out would increase the need for and boost the confidence of blenders to replenish depleted stocks.
