Thailand’s lubricating oil demand fell in November for a third month as slowing industrial activity cut consumption of industrial oils.Passenger car engine oils (PCMO) demand remained the outlier and extended its rise amid firmer activity in the services sector.PCMO demand is likely to get further support over the coming months on the back of an expected rebound in tourist numbers from China.Total lube consumption of 47,600 kilolitres (42,160t) in November fell by 9pc from 52,490kl during the same month a year earlier, government data showed..The drop in demand for a third month cut Thailand’s total lube consumption to 577,160kl in the first eleven months of the year.The volume was still up 3pc from 560,230kl during the same period last year. But the pace of the increase slowed from 6pc in the first eight months of the year.A rebound in lube demand petered out during the third quarter of the year before shrinking in the fourth quarter as a slowdown in global economic growth curbed overseas demand.Thailand’s industrial production fell in November at its steepest pace in more than two years. The country’s exports fell in November for a second month.Consumption of heavy-duty engine oils (HDEO) also dipped for a third month. HDEO is seen as a proxy for the state of industrial activity.Rising PCMO demand cushioned the slowdown. Consumption rose in November for the sixth time in seven months to a three-month high.PCMO consumption is more reflective of the state of the services sector.The sector got ongoing support from the recovery of Thailand’s tourism industry. The number of international tourists arriving in Thailand extended a rebound in November to the highest since February 2020.Tourists from China accounted for 2pc of the November total.They accounted for more than 21pc of the total in December 2019, before the pandemic triggered global lockdowns..Thailand’s Nov base oil output stays low
Thailand’s lubricating oil demand fell in November for a third month as slowing industrial activity cut consumption of industrial oils.Passenger car engine oils (PCMO) demand remained the outlier and extended its rise amid firmer activity in the services sector.PCMO demand is likely to get further support over the coming months on the back of an expected rebound in tourist numbers from China.Total lube consumption of 47,600 kilolitres (42,160t) in November fell by 9pc from 52,490kl during the same month a year earlier, government data showed..The drop in demand for a third month cut Thailand’s total lube consumption to 577,160kl in the first eleven months of the year.The volume was still up 3pc from 560,230kl during the same period last year. But the pace of the increase slowed from 6pc in the first eight months of the year.A rebound in lube demand petered out during the third quarter of the year before shrinking in the fourth quarter as a slowdown in global economic growth curbed overseas demand.Thailand’s industrial production fell in November at its steepest pace in more than two years. The country’s exports fell in November for a second month.Consumption of heavy-duty engine oils (HDEO) also dipped for a third month. HDEO is seen as a proxy for the state of industrial activity.Rising PCMO demand cushioned the slowdown. Consumption rose in November for the sixth time in seven months to a three-month high.PCMO consumption is more reflective of the state of the services sector.The sector got ongoing support from the recovery of Thailand’s tourism industry. The number of international tourists arriving in Thailand extended a rebound in November to the highest since February 2020.Tourists from China accounted for 2pc of the November total.They accounted for more than 21pc of the total in December 2019, before the pandemic triggered global lockdowns..Thailand’s Nov base oil output stays low
