Asia’s lube demand faces a seasonal slowdown in December before rebounding in the first quarter of next year.Lube demand in the fourth quarter is likely to be similar to levels of around 2.42mn t in the third quarter of the year as consumption slows in the months of November and December, according to the Baseoilnews short-term outlook.Demand is then likely to rise to more than 2.50mn t in the first three months of next year.The volume would be up more than 100,000t from the fourth quarter of this year and up more than 3pc from consumption of around 2.46mn t during the first quarter of 2022.Asia’s stronger-than-expected lube consumption in the third quarter of the year curbed the region’s overhang of surplus base oils supplies in second-half 2023.The region’s firm demand growth, combined with a seasonal rise in consumption early next year, raised the prospect of continuing to limit the speed and size of any pick-up in surplus base oils supplies..Asia’s September lube demand rises
Asia’s lube demand faces a seasonal slowdown in December before rebounding in the first quarter of next year.Lube demand in the fourth quarter is likely to be similar to levels of around 2.42mn t in the third quarter of the year as consumption slows in the months of November and December, according to the Baseoilnews short-term outlook.Demand is then likely to rise to more than 2.50mn t in the first three months of next year.The volume would be up more than 100,000t from the fourth quarter of this year and up more than 3pc from consumption of around 2.46mn t during the first quarter of 2022.Asia’s stronger-than-expected lube consumption in the third quarter of the year curbed the region’s overhang of surplus base oils supplies in second-half 2023.The region’s firm demand growth, combined with a seasonal rise in consumption early next year, raised the prospect of continuing to limit the speed and size of any pick-up in surplus base oils supplies..Asia’s September lube demand rises
