Pakistan’s January lube demand falls

Pakistan’s finished lube demand fell in January to a 20-month low amid a sharp slowdown in consumption of industrial lubricants.

Total consumption of 10,050t in January fell from 14,270t the previous month to the lowest since May 2020. Sales had averaged around 13,200 t/month in 2021.

Total consumption of 10,050t in January fell from 14,270t the previous month to the lowest since May 2020. Sales had averaged around 13,200 t/month in 2021.

Lower lube consumption coincided with a marked slowdown in Pakistan’s industrial production growth in the fourth quarter of last year. Motor fuel prices also extended their sustained rise into the start of this year. Total automobile sales fell in January for the first time in 20 months.

Transport lubricant demand of 6,900t in January fell by 21pc from year-earlier levels to its lowest since last July. Industrial lubricants demand fell more sharply by 35pc to 2,820t.

The slowdown in sales in January left consumption lagging the country’s base oils and lube production for the first time in six months.