Spain’s lube demand rose in September for a fourth month, adding to an increasingly sustained recovery in consumption in the Mediterranean region.Lube consumption of 37,100t in September rose by 12pc from year-earlier levels, according to CORES, which tracks the country’s energy stocks.The pace of the increase was the fastest in more than two years. The size of the 39pc increase in consumption from August was also larger than usual.The pick-up in demand lifted Spain's total lube consumption to 314,830t in the first nine months of the year.The volume almost matched levels of 315,330t during the same period last year.Blenders in Europe had cut base oils and lubricants inventories this year in response to weak lube demand and expectations that they could secure replenishment feedstock supplies with relative ease.The pick-up in lube demand in markets like Spain and Italy coincided with signs of more balanced base oils supply in the region.
