Latin America’s lube demand rose to an eight-month high in April amid a recovery in consumption in Mexico and surging demand in Brazil.The unusually strong lube consumption for the time of year supported the region’s firm requirements for base oils supplies from overseas markets.Total lube consumption of more than 180,000 tonnes in April rose by 6% from year-earlier levels, government and industry data showed.Lube consumption rose from less than 175,000 tonnes in March.Demand had previously fallen in the month of April from March in each of the previous five years.The unusually strong demand in the month of April mirrored a similar trend in Europe this year.Latin America’s lube demand got a boost from a rise in Mexico’s lube consumption in April for the first time in a year amid a strong recovery in industrial oils consumption.Rebounding industrial oils demand also led the rise in Brazil’s lube consumption in April.Strong demand in the region’s largest markets more than outweighed an ongoing fall in lube consumption in Argentina.Latin America’s rebounding lube demand matched the region’s rise in base oils output in April.The trend sustained the region’s reliance on base oils imports at firm levels to cover the shortfall of supply to demand.The US is the region’s largest overseas source of base oils supplies.US base oils exports of 1.02 million barrels (144,000 tonnes) to Mexico and South America combined in April exceeded the region’s supply shortfall.But the surplus volume of less than 25,000 tonnes stayed relatively narrow for a second month and fell from more than 40,000 tonnes in the three months to February.The smaller surplus and any extended recovery in Latin America’s lube consumption would likely sustain firm demand for additional base oils shipments from the US..Brazil’s April lube demand rises.Argentina’s April lube demand falls.US’ April base oils exports rise
Latin America’s lube demand rose to an eight-month high in April amid a recovery in consumption in Mexico and surging demand in Brazil.The unusually strong lube consumption for the time of year supported the region’s firm requirements for base oils supplies from overseas markets.Total lube consumption of more than 180,000 tonnes in April rose by 6% from year-earlier levels, government and industry data showed.Lube consumption rose from less than 175,000 tonnes in March.Demand had previously fallen in the month of April from March in each of the previous five years.The unusually strong demand in the month of April mirrored a similar trend in Europe this year.Latin America’s lube demand got a boost from a rise in Mexico’s lube consumption in April for the first time in a year amid a strong recovery in industrial oils consumption.Rebounding industrial oils demand also led the rise in Brazil’s lube consumption in April.Strong demand in the region’s largest markets more than outweighed an ongoing fall in lube consumption in Argentina.Latin America’s rebounding lube demand matched the region’s rise in base oils output in April.The trend sustained the region’s reliance on base oils imports at firm levels to cover the shortfall of supply to demand.The US is the region’s largest overseas source of base oils supplies.US base oils exports of 1.02 million barrels (144,000 tonnes) to Mexico and South America combined in April exceeded the region’s supply shortfall.But the surplus volume of less than 25,000 tonnes stayed relatively narrow for a second month and fell from more than 40,000 tonnes in the three months to February.The smaller surplus and any extended recovery in Latin America’s lube consumption would likely sustain firm demand for additional base oils shipments from the US..Brazil’s April lube demand rises.Argentina’s April lube demand falls.US’ April base oils exports rise
