Pakistan’s lube demand rose in December for a sixth month, mirroring a recovery in the country’s economic performance.Rising lube consumption contrasted with a slump in Pakistan’s base oils output. The contraction compounded a sustained fall in the country’s base oils supply even with a pick-up in imports.The trend raised the prospect of increasing Pakistan’s demand for overseas base oils supplies to cover more of its requirements.The country’s lube consumption of more than 11,000t in December rose by 2pc from year-earlier levels, OCAC data showed.Demand continued to get a boost from a strong revival in industrial oils consumption.The trend mirrored a recovery in Pakistan’s large-scale manufacturing industrial activity in December to the highest level in nearly two years.Pakistan’s total lube consumption of 140,600t in 2023 still fell from 147,600t the previous year.But lube sales of 69,550t in second-half 2023 outpaced consumption of less than 65,000t during the same period a year earlier.Rising consumption contrasted with a slump in Pakistan’s base oils production.Output of around 12,100t in December fell by 35pc from year-earlier levels.The contraction was the eleventh in twelve months and cut total output to 116,500t in 2023, down from close to 159,000t the previous year.Rising demand and falling output increased Pakistan’s requirements for base oils from overseas markets.Base oils imports duly revived in second-half 2023 after slumping during the first six months of the year.Imports of around 23,000t in December rose by 13pc and for the third month in four from year-earlier levels, provisional customs data showed.Pakistan’s total base oils supply, or domestic output and imports combined, came to around 35,300t in December.The volume still fell by 12pc and for a fifth month from year-earlier levels..Pakistan’s Nov lube demand rises, supply falls.Asia’s December lube demand rises.India’s Jan base oils supply exceeds demand
Pakistan’s lube demand rose in December for a sixth month, mirroring a recovery in the country’s economic performance.Rising lube consumption contrasted with a slump in Pakistan’s base oils output. The contraction compounded a sustained fall in the country’s base oils supply even with a pick-up in imports.The trend raised the prospect of increasing Pakistan’s demand for overseas base oils supplies to cover more of its requirements.The country’s lube consumption of more than 11,000t in December rose by 2pc from year-earlier levels, OCAC data showed.Demand continued to get a boost from a strong revival in industrial oils consumption.The trend mirrored a recovery in Pakistan’s large-scale manufacturing industrial activity in December to the highest level in nearly two years.Pakistan’s total lube consumption of 140,600t in 2023 still fell from 147,600t the previous year.But lube sales of 69,550t in second-half 2023 outpaced consumption of less than 65,000t during the same period a year earlier.Rising consumption contrasted with a slump in Pakistan’s base oils production.Output of around 12,100t in December fell by 35pc from year-earlier levels.The contraction was the eleventh in twelve months and cut total output to 116,500t in 2023, down from close to 159,000t the previous year.Rising demand and falling output increased Pakistan’s requirements for base oils from overseas markets.Base oils imports duly revived in second-half 2023 after slumping during the first six months of the year.Imports of around 23,000t in December rose by 13pc and for the third month in four from year-earlier levels, provisional customs data showed.Pakistan’s total base oils supply, or domestic output and imports combined, came to around 35,300t in December.The volume still fell by 12pc and for a fifth month from year-earlier levels..Pakistan’s Nov lube demand rises, supply falls.Asia’s December lube demand rises.India’s Jan base oils supply exceeds demand
