Base oils and lube demand in key markets in the Americas, Europe and Asia rose in January for the first time in five months.Demand rose as firm consumption in the Americas and Asia outweighed weaker demand in Europe.Total consumption of 1.53mn t in January rose from 1.39mn t the previous month and by 6pc from year-earlier levels, government and industry data showed. The year-on-year increase was the first since August.Demand rose by 10pc in January from year-earlier levels in Asia’s largest markets, excluding China.Demand rose by 5pc in January in the Americas’ largest markets.The rise in consumption in those markets outweighed the 4pc drop in demand in Europe’s four largest markets in January..Europe’s January lube demand falls
