The Philippines’ base oils and lube imports fell for a sixth month in August, pointing to mixed demand throughout the southeast Asia market.Base oils and lube imports combined fell to less than 13,000t in August, government data showed.The volume fell by 27pc from year-earlier levels to the lowest in eight months.The sustained slowdown cut total imports to less than 120,000t in the first eight months of the year, down 15pc from almost 141,000t during the same period last year.Supplies fell even in the face of firm domestic automobile sales and strong industrial production growth.But the pace of the country’s economic growth slowed this year compared with 2022.Base oil and lube imports from Singapore continued to fall more steeply in August than supplies from other markets like South Korea and Thailand..Thailand’s Aug lube demand rises
The Philippines’ base oils and lube imports fell for a sixth month in August, pointing to mixed demand throughout the southeast Asia market.Base oils and lube imports combined fell to less than 13,000t in August, government data showed.The volume fell by 27pc from year-earlier levels to the lowest in eight months.The sustained slowdown cut total imports to less than 120,000t in the first eight months of the year, down 15pc from almost 141,000t during the same period last year.Supplies fell even in the face of firm domestic automobile sales and strong industrial production growth.But the pace of the country’s economic growth slowed this year compared with 2022.Base oil and lube imports from Singapore continued to fall more steeply in August than supplies from other markets like South Korea and Thailand..Thailand’s Aug lube demand rises
