Pakistan’s August lube demand rises

Pakistan’s lube demand rose for a second month in August and at its fastest pace in more than two years amid a jump in automobile lubricants consumption.

Lube demand of 13,800t in August rose by 30pc from year-earlier levels, OCAC data showed. The volume was the highest in fourteen months.

The increase followed a 2pc rise in consumption in July, which in turn followed a slump in demand throughout most of the year to June.

The pick-up in lube demand coincided with a recovery in automobile sales volumes in August to a four-month high.

The country’s monthly economic indicator for August also stayed positive for a third month.

Automobile lube consumption rose by 37pc in August to a fourteen-month high.

Industrial oils consumption rose by 1pc in August after falling in nine of the previous eleven months.