Asia’s lube demand was more mixed in November as firmer consumption in India balanced out lower demand in northeast and southeast Asia.Total consumption of more than 750,000t in November fell from more than 770,000t the previous month, government and industry data showed.Demand was up 1pc from year-earlier levels.The volumes exclude China.Regional demand steadied in October and November after rising strongly in the second and third quarters of the year, especially in India.The trend highlighted the impact and importance of India’s rising lube demand for regional base oils producers.Its growing importance raised the prospect of magnifying the impact of any slowdown in its base oils demand from regional refiners.Such a scenario is likely to materialize this year even with an expected ongoing rise in the country’s lube demand.The planned start-up of new base oils production capacity in India over the coming months is set to cover more of the country’s requirements and cut its need for overseas supplies.India’s higher lube consumption in November balanced out a 1pc slowdown in demand in southeast Asia and a 3pc fall in demand in northeast Asia from year-earlier levels.The fall in consumption in northeast Asia was the first in nine months. .India’s Nov lube demand holds firm.Thailand’s November lube demand rises
