Pakistan’s May lube demand falls

Pakistan’s lubricating oil demand fell in May for a third month amid a sustained slowdown in the country’s economic activity.

Lube consumption of 13,050t in May fell by 15pc from year-earlier levels, according to Oil Companies Advisory Council.

Lube demand rose from 9,990t in April, mirroring a typical month-on-month pick-up in consumption at the start of the second quarter of the year.

But the 31pc rise in demand from April was larger than usual.

Demand for transport-related lubricants fell by 18pc from a year earlier to 8,470t.

Consumption of industrial oils fell by 14pc to 4,190t.

Pakistan’s automobile sales fell by 40pc in May and for an eleventh month from year-earlier levels.