Asia’s April lube demand falls

Asia-Pacific base oils and lube demand fell to an eight-month low in April amid a steep dip in consumption in southeast Asia.

Total demand of around 693,000t in April fell from more than 927,000t the previous month, government data showed.

The March volume was the highest in a year amid a seasonal pick-up in consumption. It still fell from year-earlier levels.

The April volume also mirrored seasonal trends, with demand falling sharply from March. It also fell from year-earlier levels for the twelfth time in thirteen months.

A rise in lube demand in northeast Asia in April was insufficient to counter a slowdown in consumption in southeast Asia to the lowest in more than two years.

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

Total consumption of 3.17mn t in the first four months of the year was down 5pc from 3.35mn t during the same period last year.