The Philippines' base oils and lube imports fell for a seventh month in September amid a sustained drop in shipments from Singapore and Thailand.Base oils and lube imports combined came to 13,600t in September, government data showed. The volume was down 22pc from more than 17,500t during the same month a year earlier.The sustained slowdown in supplies cut total imports to 133,000t in the first nine months of the year. The volume was down from 158,600t during the same period a year earlier.Imports slowed even amid firm economic growth in the country so far this year.But interest rates continued to climb in the fourth quarter in response to stubbornly-high inflation.The country’s automobile sales rose in September at their slowest pace in nineteen months.The fall in the Philippines’ base oils and lube imports in September mostly reflected a 56pc slide in shipments from Thailand.Imports of little more than 40,000t from the southeast Asian country in the first nine months of the year fell by 25pc from close to 54,000t during the same period last year.Imports from Singapore fell by a steeper 28pc to 30,400t in the first nine months of the year.South Korea was the outlier.Imports of close to 35,000t from the northeast Asian country in the first nine months of the year were up more than 20pc from year-earlier levels..Thailand’s Sept lube demand rises
The Philippines' base oils and lube imports fell for a seventh month in September amid a sustained drop in shipments from Singapore and Thailand.Base oils and lube imports combined came to 13,600t in September, government data showed. The volume was down 22pc from more than 17,500t during the same month a year earlier.The sustained slowdown in supplies cut total imports to 133,000t in the first nine months of the year. The volume was down from 158,600t during the same period a year earlier.Imports slowed even amid firm economic growth in the country so far this year.But interest rates continued to climb in the fourth quarter in response to stubbornly-high inflation.The country’s automobile sales rose in September at their slowest pace in nineteen months.The fall in the Philippines’ base oils and lube imports in September mostly reflected a 56pc slide in shipments from Thailand.Imports of little more than 40,000t from the southeast Asian country in the first nine months of the year fell by 25pc from close to 54,000t during the same period last year.Imports from Singapore fell by a steeper 28pc to 30,400t in the first nine months of the year.South Korea was the outlier.Imports of close to 35,000t from the northeast Asian country in the first nine months of the year were up more than 20pc from year-earlier levels..Thailand’s Sept lube demand rises
