Lubricating oil demand in Latin America, Europe and Asia is set to fall sharply in the third quarter of the year as slowing economic growth compounds a seasonal slowdown in consumption.Lube demand is likely to fall below 3.0mn t in the three regions in the third quarter of the year, according to the Baseoilnews.com short-term outlook. The volume woud be down from more than 3.10mn t during the three months to end-June.Lube demand exceeded 3.2mn t during the third quarter of 2022.The Asia demand volume excluded China.Lube consumption in the second quarter was already down from more than 3.60mn t during the first three months of the year.The drop in demand raised the prospect of a rise in surplus base oils supplies unless output also adjusted lower accordingly..Global lube demand stays weak in March.Contact us for more information about the data for these stories
