India’s lubricating oil demand rose to a five-month high in August, mirroring a sustained rise in the country’s diesel consumption and automobile sales.Lube consumption of 324,000t in August rose from 306,000t the previous month and by 33pc from year-earlier levels, government data showed.The rise in demand lifted total consumption to almost 2.70mn t in the first eight months of the year. The volume was almost the same as year-earlier levels.The steady consumption reflected a pick-up in demand in recent months that balanced out weaker consumption at the start of the year.Demand had lagged year-earlier levels by 9pc in the first four months of the year.Firmer demand sustained blenders’ requirements for growing base oils supplies from domestic and overseas sources.It contrasted with weaker-than-expected lube consumption in other markets like China..India July base oil supply surplus widens
India’s lubricating oil demand rose to a five-month high in August, mirroring a sustained rise in the country’s diesel consumption and automobile sales.Lube consumption of 324,000t in August rose from 306,000t the previous month and by 33pc from year-earlier levels, government data showed.The rise in demand lifted total consumption to almost 2.70mn t in the first eight months of the year. The volume was almost the same as year-earlier levels.The steady consumption reflected a pick-up in demand in recent months that balanced out weaker consumption at the start of the year.Demand had lagged year-earlier levels by 9pc in the first four months of the year.Firmer demand sustained blenders’ requirements for growing base oils supplies from domestic and overseas sources.It contrasted with weaker-than-expected lube consumption in other markets like China..India July base oil supply surplus widens
