Pakistan’s lube demand fell in January for the first time in seven months even amid ongoing signs of improving economic activity in the country.The drop in consumption contrasted with a rise in Pakistan’s base oils output for the first time in seven months.The production volume remained relatively low, with the country increasingly reliant on overseas base oils supplies to cover more of its requirements.South Korea especially remained the key beneficiary of Pakistan’s growing demand for base oils imports.The country's lube demand of around 10,500t in January fell by 8pc from year-earlier levels, OCAC data showed.Consumption of transport lubricants fell by 12pc and industrial oils by 4pc.The smaller fall in industrial oils consumption, and its first drop in six months, coincided with signs of a sustained recovery in Pakistan's industrial activity.The country’s index for large scale manufacturing industries rose in January for a second month from year-earlier levels to the highest since early 2022.The larger drop in transport lube consumption coincided with an ongoing fall in Pakistan’s total automobile sales.But passenger car sales rose in February for a second month, and tractor sales for an eighth month.Pakistan’s base oils output of 10,700t in January rose by 4pc from year-earlier levels and for the first time in seven months.The prolonged divergence between supply and demand sustained steady buying interest in base oils imports.The country’s reliance on overseas supplies to cover its requirements for premium-grade base oils added to demand for imports.Imports of around 21,500t in January rose by 35pc and for the fourth time in five months from year-earlier levels.Shipments from South Korea and Singapore accounted for more than 95pc of the total.The share was up from typical levels of less than 80pc of the total in 2023.Like last year, Group II heavy grades accounted for more than half of the January import volume..S Korea’s February base oils exports fall.Pakistan’s Dec lube demand rises, supply falls
Pakistan’s lube demand fell in January for the first time in seven months even amid ongoing signs of improving economic activity in the country.The drop in consumption contrasted with a rise in Pakistan’s base oils output for the first time in seven months.The production volume remained relatively low, with the country increasingly reliant on overseas base oils supplies to cover more of its requirements.South Korea especially remained the key beneficiary of Pakistan’s growing demand for base oils imports.The country's lube demand of around 10,500t in January fell by 8pc from year-earlier levels, OCAC data showed.Consumption of transport lubricants fell by 12pc and industrial oils by 4pc.The smaller fall in industrial oils consumption, and its first drop in six months, coincided with signs of a sustained recovery in Pakistan's industrial activity.The country’s index for large scale manufacturing industries rose in January for a second month from year-earlier levels to the highest since early 2022.The larger drop in transport lube consumption coincided with an ongoing fall in Pakistan’s total automobile sales.But passenger car sales rose in February for a second month, and tractor sales for an eighth month.Pakistan’s base oils output of 10,700t in January rose by 4pc from year-earlier levels and for the first time in seven months.The prolonged divergence between supply and demand sustained steady buying interest in base oils imports.The country’s reliance on overseas supplies to cover its requirements for premium-grade base oils added to demand for imports.Imports of around 21,500t in January rose by 35pc and for the fourth time in five months from year-earlier levels.Shipments from South Korea and Singapore accounted for more than 95pc of the total.The share was up from typical levels of less than 80pc of the total in 2023.Like last year, Group II heavy grades accounted for more than half of the January import volume..S Korea’s February base oils exports fall.Pakistan’s Dec lube demand rises, supply falls
