Lube demand in the Americas, Europe and Asia rose to an eleven-month high in March on the back of a seasonal pick-up in consumption.But demand lagged year-earlier levels for the thirteenth time in fourteen months, complicating refiners’ ability to clear surplus base oils volumes from markets like the US.Lube demand of close to 2.20mn t in March rose from 2.0mn t the previous month, government and industry data showed.The volume was down 20pc from more than 2.7mn t in March 2022.Total demand of around 6.30mn t in the first quarter of the year was down 13pc from close to 7.30mn t during the same period last year.The synchronized fall in demand in all the key markets compounded the size of the contraction..Contact us for more information about the data for these stories
Lube demand in the Americas, Europe and Asia rose to an eleven-month high in March on the back of a seasonal pick-up in consumption.But demand lagged year-earlier levels for the thirteenth time in fourteen months, complicating refiners’ ability to clear surplus base oils volumes from markets like the US.Lube demand of close to 2.20mn t in March rose from 2.0mn t the previous month, government and industry data showed.The volume was down 20pc from more than 2.7mn t in March 2022.Total demand of around 6.30mn t in the first quarter of the year was down 13pc from close to 7.30mn t during the same period last year.The synchronized fall in demand in all the key markets compounded the size of the contraction..Contact us for more information about the data for these stories