France’s lubricating oil demand remained under pressure in September amid falling industrial oils consumption.Rising demand for passenger-car engine oils cushioned the slowdown.Lube consumption of 44,360t in September edged down by 0.1pc from year-earlier levels, according to Centre Professionel des Lubrifiants (CPL)..Demand was up 21pc from August, when consumption typically falls during the summer-holiday period.The rise in lube demand from August and drop in consumption from year-earlier levels mirrored other countries like Italy and Spain..Italy’s September lube demand falls.The trend reflected the slowdown in Europe’s economic activity during the third quarter and likely contraction over the coming months as rising costs curbed industrial and consumer activity.The drop in lube demand and expectations of a further slowdown in consumption incentivized blenders to cut their feedstock requirements and hold lower stocks, especially for base oils to produce industrial oils like metal-working fluids.Like other countries in the region, France’s consumption of industrial oils fell more steeply than demand for motor-car engine oils as industrial activity slowed ahead of activity in the services sector.Industrial oils consumption fell in September for the fifth time in six months mostly because of a sharp drop in demand for metal-working fluids. Consumption of heavy-duty engine oils fell in September for a fourth month. The lubricant is considered a bellwether for the state of industrial activity.France’s industrial production fell in September from the previous month for the second time in three months.The country’s manufacturing purchasing managers’ index (PMI) pointed to contraction in October for the third time in four months.Like other countries, France’s passenger-car engine oils (PCMO) were the outlier. Demand for the product rose by 3pc in September from year-earlier levels to a six-month high.Consumption of PCMO is more closely linked to retail and services activity.France’s services PMI continued to point to expansion in the services sector in October for a 19th straight month..France’s August lube demand falls
France’s lubricating oil demand remained under pressure in September amid falling industrial oils consumption.Rising demand for passenger-car engine oils cushioned the slowdown.Lube consumption of 44,360t in September edged down by 0.1pc from year-earlier levels, according to Centre Professionel des Lubrifiants (CPL)..Demand was up 21pc from August, when consumption typically falls during the summer-holiday period.The rise in lube demand from August and drop in consumption from year-earlier levels mirrored other countries like Italy and Spain..Italy’s September lube demand falls.The trend reflected the slowdown in Europe’s economic activity during the third quarter and likely contraction over the coming months as rising costs curbed industrial and consumer activity.The drop in lube demand and expectations of a further slowdown in consumption incentivized blenders to cut their feedstock requirements and hold lower stocks, especially for base oils to produce industrial oils like metal-working fluids.Like other countries in the region, France’s consumption of industrial oils fell more steeply than demand for motor-car engine oils as industrial activity slowed ahead of activity in the services sector.Industrial oils consumption fell in September for the fifth time in six months mostly because of a sharp drop in demand for metal-working fluids. Consumption of heavy-duty engine oils fell in September for a fourth month. The lubricant is considered a bellwether for the state of industrial activity.France’s industrial production fell in September from the previous month for the second time in three months.The country’s manufacturing purchasing managers’ index (PMI) pointed to contraction in October for the third time in four months.Like other countries, France’s passenger-car engine oils (PCMO) were the outlier. Demand for the product rose by 3pc in September from year-earlier levels to a six-month high.Consumption of PCMO is more closely linked to retail and services activity.France’s services PMI continued to point to expansion in the services sector in October for a 19th straight month..France’s August lube demand falls
