Asia’s lube demand is set to rise in the fourth quarter of the year from the third quarter but lag year-earlier levels.
Lube demand is likely to extend its rise in the first three months of next year from the fourth quarter to levels that are closer to year-earlier levels.
Lube consumption is likely to exceed 2.10mn t in the fourth quarter of the year, according to the Baseoilnews.com short-term outlook.
The consumption level would be up from more than 2.0mn t in the third quarter but down from more than 2.20mn t during the fourth quarter of last year.
The lower year-on-year volume reflects expectations of more muted demand at least until the end of this year.
The third- and fourth-quarter volumes are also around 2pc lower than expectations a month ago.
