Latin America’s lube demand is likely to extend its fall this and next month before a sharp rebound at the start of next year.The pick-up in demand in 2025 would likely begin earlier than in other markets like US and Asia.A rise in demand would in turn boost the region’s requirements for additional base oils supplies from overseas markets.The US would be the key beneficiary of any such pick-up in demand.Latin America’s lube consumption is likely to rise to more than 560,000 tonnes in the first quarter of next year, up from less than 535,000 tonnes during the final three months of this year, according to the Baseoilnews short-term outlook.Consumption during both quarters would still be down from close to 590,000 tonnes in the third quarter of this year.The slowdown in consumption in the fourth quarter of this year is likely to cut Latin America’s requirements for overseas base oils shipments to cover the region’s structural supply shortfall.Signs of weaker lube consumption from year-earlier levels and the lack of any scheduled plant maintenance work in the final months of the year are likely to magnify the drop in requirements.That dynamic is likely to reverse from the start of next year with an expected rapid recovery in consumption.A strong pick-up in demand from early next year would provide the US with a welcome and valuable outlet amid a likely rise in its own surplus base oils supplies at that time.The steady fall in US base oils export prices since early-September boosted the competitiveness of US supplies versus other markets like Asia.The lower prices in turn left US suppliers even better positioned to take advantage of any subsequent pick-up in Latin America’s requirements. .Brazil’s September lube demand rises.Argentina's Sept lube demand falls.Latam’s August lube demand falls.Asia lube demand likely to improve in Q1
Latin America’s lube demand is likely to extend its fall this and next month before a sharp rebound at the start of next year.The pick-up in demand in 2025 would likely begin earlier than in other markets like US and Asia.A rise in demand would in turn boost the region’s requirements for additional base oils supplies from overseas markets.The US would be the key beneficiary of any such pick-up in demand.Latin America’s lube consumption is likely to rise to more than 560,000 tonnes in the first quarter of next year, up from less than 535,000 tonnes during the final three months of this year, according to the Baseoilnews short-term outlook.Consumption during both quarters would still be down from close to 590,000 tonnes in the third quarter of this year.The slowdown in consumption in the fourth quarter of this year is likely to cut Latin America’s requirements for overseas base oils shipments to cover the region’s structural supply shortfall.Signs of weaker lube consumption from year-earlier levels and the lack of any scheduled plant maintenance work in the final months of the year are likely to magnify the drop in requirements.That dynamic is likely to reverse from the start of next year with an expected rapid recovery in consumption.A strong pick-up in demand from early next year would provide the US with a welcome and valuable outlet amid a likely rise in its own surplus base oils supplies at that time.The steady fall in US base oils export prices since early-September boosted the competitiveness of US supplies versus other markets like Asia.The lower prices in turn left US suppliers even better positioned to take advantage of any subsequent pick-up in Latin America’s requirements. .Brazil’s September lube demand rises.Argentina's Sept lube demand falls.Latam’s August lube demand falls.Asia lube demand likely to improve in Q1
