Lube demand in the Americas, Europe and Asia rose in May for the first time in fourteen months amid firmer consumption in Latin America and Asia-Pacific.Total lube demand of more than 2.10mn t in May rose from close to 1.90mn t the previous month and by 5pc from year-earlier levels.Lube consumption of 10.32mn t in the first five months of the year was still down 10pc from 11.44mn t during the same period last year.Blenders in Europe and US especially cut inventories this year in response to weak finished lubricants consumption and expectations that the slowdown would continue.The moves to cut stocks compounded the slowdown and added to the drop in demand for feedstock base oils supplies.The reality was more mixed, with pockets of firmer demand appearing in the Americas, Europe and Asia-Pacific.Demand could get further support when blenders move to replenish depleted stocks..Asia’s June lube demand rises
Lube demand in the Americas, Europe and Asia rose in May for the first time in fourteen months amid firmer consumption in Latin America and Asia-Pacific.Total lube demand of more than 2.10mn t in May rose from close to 1.90mn t the previous month and by 5pc from year-earlier levels.Lube consumption of 10.32mn t in the first five months of the year was still down 10pc from 11.44mn t during the same period last year.Blenders in Europe and US especially cut inventories this year in response to weak finished lubricants consumption and expectations that the slowdown would continue.The moves to cut stocks compounded the slowdown and added to the drop in demand for feedstock base oils supplies.The reality was more mixed, with pockets of firmer demand appearing in the Americas, Europe and Asia-Pacific.Demand could get further support when blenders move to replenish depleted stocks..Asia’s June lube demand rises
