Asia’s Q2 lube demand lags Q1

Asia’s lubricating oil demand is set to fall in the second quarter of the year from the first three months, when consumption got a boost at the end of the first quarter.

Demand is likely to improve in June and July, after correcting lower at the start of the second quarter, according to the Baseoilnews.com short-term outlook.

Demand is then likely to fall in August.

Lube demand is likely to come to more than 2.10mn t in the second quarter of the year, down from 2.29mn t during the first three months of the year.

The volume includes demand in the largest markets in southeast and northeast Asia, excluding China.

The lack of any seasonal pick-up in demand over the coming months curbs blenders’ urgency to replenish stocks.