Australia’s June lube demand rises

Australia’s June lube demand rises
Photo by Weyne Yew on Unsplash

Australia’s lube demand rose in June for an eleventh month even as industrial oils consumption fell for the first time in more than a year.

Total lube consumption of 27,500 kilolitres (24,400t) in June rose by 2pc from year-earlier levels, government data showed.

The sustained rise in demand lifted total consumption to 157,100kl in first-half 2023, up 6pc from 148,600kl during the same period last year.

Demand rose during that period mostly because of rising consumption of industry-related lubricants.

The trend contrasted with other markets in Asia-Pacific, where stronger demand for engine oils supported total lubricants consumption.

The dynamic was more mixed in June.

Sales of heavy-duty engine oils rose by 3pc and for an eighth month in nine from year-earlier levels.

But consumption of industrial oils fell by 3pc in June. The contraction was the first in fourteen months.

Australia’s June lube demand rises
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