Italy’s lubricating oil demand fell in October for the third month in four amid a sustained slide in industrial oils consumption.The slowdown outweighed still-steady demand for automobile lubricants.Lube consumption of 32,500t in October fell by 6pc from 34,700t the same time a year earlier, government data showed. The volume was the lowest for the month of October in more than eight years.The contraction lagged slightly the 7pc fall in Italy’s lube demand to 315,900t in the first ten months of the year..Shrinking industrial oils consumption and firmer automobile oils demand extended a pattern that began at the start of the year.The trend highlighted the relative pressure on industrial production compared with the services sector.Lube demand trends in other markets like France showed a similar pattern..France's Sept lube demand edges lower.Italy’s industrial oils demand fell by 13pc in October amid sliding consumption of metalworking fluids and greases.A 23pc fall in consumption of heavy-duty engine oils (HDEO) in October was the steepest contraction in six months. HDEO is seen as a bellwether for the state of industrial activity.Sliding industrial oils consumption mirrored growing signs of slowing industrial activity.Italy’s industrial production fell in September for the third time in four months. The country’s manufacturing purchasing managers’ index (PMI) contracted in October for a fourth month.Automobile oils demand by contrast rose in October for the fifth time in six months, mostly because of an 18pc rise in consumption of passenger car engine oils (PCMO).PCMO demand is considered to be more reflective of the state of the services sector.Strong PCMO consumption could face more pressure over the coming months as services activity slows.Italy’s retail sales growth remained positive in September but rose at its slowest pace in three months.The country’s services PMI contracted in September for the first time in eight months. It contracted even more in October.The prospect of a similar drop in lube consumption throughout Europe came at a time of year when refiners typically sought to clear surplus base oils supplies before year-end.Rising surplus supplies and weakening lube demand triggered a sustained fall in regional base oils prices in recent weeks..Italy’s September lube demand falls
Italy’s lubricating oil demand fell in October for the third month in four amid a sustained slide in industrial oils consumption.The slowdown outweighed still-steady demand for automobile lubricants.Lube consumption of 32,500t in October fell by 6pc from 34,700t the same time a year earlier, government data showed. The volume was the lowest for the month of October in more than eight years.The contraction lagged slightly the 7pc fall in Italy’s lube demand to 315,900t in the first ten months of the year..Shrinking industrial oils consumption and firmer automobile oils demand extended a pattern that began at the start of the year.The trend highlighted the relative pressure on industrial production compared with the services sector.Lube demand trends in other markets like France showed a similar pattern..France's Sept lube demand edges lower.Italy’s industrial oils demand fell by 13pc in October amid sliding consumption of metalworking fluids and greases.A 23pc fall in consumption of heavy-duty engine oils (HDEO) in October was the steepest contraction in six months. HDEO is seen as a bellwether for the state of industrial activity.Sliding industrial oils consumption mirrored growing signs of slowing industrial activity.Italy’s industrial production fell in September for the third time in four months. The country’s manufacturing purchasing managers’ index (PMI) contracted in October for a fourth month.Automobile oils demand by contrast rose in October for the fifth time in six months, mostly because of an 18pc rise in consumption of passenger car engine oils (PCMO).PCMO demand is considered to be more reflective of the state of the services sector.Strong PCMO consumption could face more pressure over the coming months as services activity slows.Italy’s retail sales growth remained positive in September but rose at its slowest pace in three months.The country’s services PMI contracted in September for the first time in eight months. It contracted even more in October.The prospect of a similar drop in lube consumption throughout Europe came at a time of year when refiners typically sought to clear surplus base oils supplies before year-end.Rising surplus supplies and weakening lube demand triggered a sustained fall in regional base oils prices in recent weeks..Italy’s September lube demand falls
