Asia’s March lube demand rises

Asia-Pacific base oils and lube demand rose to a one-year high in March on the back of a seasonal pick-up in consumption.

The size of the rise in demand from February was smaller than usual. Consumption also fell from year-earlier levels for the tenth time in eleven months.

Total demand of more than 875,000t in March rose from less than 720,000t the previous month.

It fell by 6pc, or more than 55,000t, from more than 930,000t during the same month a year earlier.

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

Demand fell by more than 10pc in southeast Asia and more than 17pc in India and Pakistan.

The contraction contrasted with firmer consumption in northeast Asia.