Italy’s lube demand extended its rise for a ninth month in February on the back of strong consumption of both automobile and industrial oils.The sustained recovery in lube demand in markets like Italy and Spain boosted blenders’ requirement to replenish their base oils supplies more frequently.Regional blenders are likely to need to turn to base oils suppliers outside Italy to cover more of those requirements following the planned closure of one of the country’s base oils plants.Italy’s dwindling base oils inventories could speed up that process even more.The country’s lube demand of 33,400 tonnes in February rose from 31,000 tonnes the previous month and by 4% from year-earlier levels, government data showed.Consumption of automotive lubricants rose by 5% in February and industrial oils by 4%.Italy's sustained rise in lube consumption contrasted with the country's mixed economic signals.Industrial production extended its contraction in January for an eleventh month.Business confidence in the manufacturing sector by contrast improved in March to its firmest level since last August.Italy’s rising lube consumption contrasted with a fall in the country’s base oils output in six out of the last eight months to January from year-earlier levels.Lower output cut Italy’s base oils stocks in January to a seventeen-month low.Output is likely to fall further following the expected closure of a Group I base oils plant in Italy in the coming weeks.The contrasting supply-demand trends raised the prospect of domestic blenders turning to other sources like Spain, Greece and Poland to cover more of their Group I base oils requirements. .Italy’s January base oils output falls
Italy’s lube demand extended its rise for a ninth month in February on the back of strong consumption of both automobile and industrial oils.The sustained recovery in lube demand in markets like Italy and Spain boosted blenders’ requirement to replenish their base oils supplies more frequently.Regional blenders are likely to need to turn to base oils suppliers outside Italy to cover more of those requirements following the planned closure of one of the country’s base oils plants.Italy’s dwindling base oils inventories could speed up that process even more.The country’s lube demand of 33,400 tonnes in February rose from 31,000 tonnes the previous month and by 4% from year-earlier levels, government data showed.Consumption of automotive lubricants rose by 5% in February and industrial oils by 4%.Italy's sustained rise in lube consumption contrasted with the country's mixed economic signals.Industrial production extended its contraction in January for an eleventh month.Business confidence in the manufacturing sector by contrast improved in March to its firmest level since last August.Italy’s rising lube consumption contrasted with a fall in the country’s base oils output in six out of the last eight months to January from year-earlier levels.Lower output cut Italy’s base oils stocks in January to a seventeen-month low.Output is likely to fall further following the expected closure of a Group I base oils plant in Italy in the coming weeks.The contrasting supply-demand trends raised the prospect of domestic blenders turning to other sources like Spain, Greece and Poland to cover more of their Group I base oils requirements. .Italy’s January base oils output falls