Argentina’s lubricants demand fell in April for the ninth time in ten months, highlighting the widespread impact of the slump in the country’s economic activity.The fall in lube demand triggered a similarly-sharp drop in lubricants production as blenders sought to minimize stocks.The moves compounded a fall in the country’s base oils requirements and boosted the attraction of procuring smaller volumes more frequently.Argentina's total lube consumption fell to less than 16,000 cubic meters (13,900 tonnes) in April, down 26% from year-earlier levels, government data showed.The volume was the second-lowest since first-half 2020, when economic activity contracted because of pandemic-related restrictions.A slump in economic activity similarly slashed lube consumption this time.Argentina’s automobile production fell by more than 20% in April and for a fifth straight month. Auto sales fell for the fifth time in six months.Sliding lube consumption increased the importance for blenders to produce sufficient volumes to cover demand and to minimize any surplus.The surplus of lube production over demand duly fell to around 2,850 cubic meters/month in the first four months of the year.The volume was down from more than 3,800 cubic meters/month during the same period in each of the previous three years.The smaller surplus curbed blenders’ exposure to a further drop in demand. It also exposed them to the risk of tighter supply if demand were to revive earlier than expected.Argentina’s national oil company YPF was the country’s largest lube supplier in April with a market share of around 44% of total sales. The share was up from 39% in the first four months of the year.Shell was the country’s second-largest supplier with a 25% share in April and 30% share in the first four months of the year.Total Especialidades Argentina was the third-largest supplier in April and Pan American Energy the fourth largest..Brazil’s April lube demand rises.Argentina’s March lube demand falls
Argentina’s lubricants demand fell in April for the ninth time in ten months, highlighting the widespread impact of the slump in the country’s economic activity.The fall in lube demand triggered a similarly-sharp drop in lubricants production as blenders sought to minimize stocks.The moves compounded a fall in the country’s base oils requirements and boosted the attraction of procuring smaller volumes more frequently.Argentina's total lube consumption fell to less than 16,000 cubic meters (13,900 tonnes) in April, down 26% from year-earlier levels, government data showed.The volume was the second-lowest since first-half 2020, when economic activity contracted because of pandemic-related restrictions.A slump in economic activity similarly slashed lube consumption this time.Argentina’s automobile production fell by more than 20% in April and for a fifth straight month. Auto sales fell for the fifth time in six months.Sliding lube consumption increased the importance for blenders to produce sufficient volumes to cover demand and to minimize any surplus.The surplus of lube production over demand duly fell to around 2,850 cubic meters/month in the first four months of the year.The volume was down from more than 3,800 cubic meters/month during the same period in each of the previous three years.The smaller surplus curbed blenders’ exposure to a further drop in demand. It also exposed them to the risk of tighter supply if demand were to revive earlier than expected.Argentina’s national oil company YPF was the country’s largest lube supplier in April with a market share of around 44% of total sales. The share was up from 39% in the first four months of the year.Shell was the country’s second-largest supplier with a 25% share in April and 30% share in the first four months of the year.Total Especialidades Argentina was the third-largest supplier in April and Pan American Energy the fourth largest..Brazil’s April lube demand rises.Argentina’s March lube demand falls