Thailand’s lube demand rose for a fourth month in November amid rebounding consumption of heavy-duty engine oils (HDEO).Total lube consumption of 42,100 kilolitres (37,300t) in November rose from 39,300kl the previous month and by 11pc from year-earlier levels, government data showed.The sustained recovery left total consumption of 420,000kl in the first eleven months of the year down 4pc from 437,000kl during the same period the previous year.The contraction narrowed from a 13pc fall in demand in first-half 2023.The revival in lube demand in the second half of the year mirrored a similar trend in other markets in southeast Asia.The region’s firmer demand boosted its importance as a key outlet for base oils from refiners throughout the Asia-Pacific region.It also curbed the size of any build-up of surplus base oils supplies in the region at year-end.Thailand’s economy got support from a recovering tourism sector in 2023. At the same time it faced pressure from shrinking industrial production and weak overseas demand.Rebounding engine oils consumption mirrored the pick-up in retail and services-related activity.HDEO consumption rose by 19pc in November, and passenger-car motor oils by 12pc.Demand for other lubricants also rose, but at a slower 5pc pace..Thailand’s Nov base oils supply rises
Thailand’s lube demand rose for a fourth month in November amid rebounding consumption of heavy-duty engine oils (HDEO).Total lube consumption of 42,100 kilolitres (37,300t) in November rose from 39,300kl the previous month and by 11pc from year-earlier levels, government data showed.The sustained recovery left total consumption of 420,000kl in the first eleven months of the year down 4pc from 437,000kl during the same period the previous year.The contraction narrowed from a 13pc fall in demand in first-half 2023.The revival in lube demand in the second half of the year mirrored a similar trend in other markets in southeast Asia.The region’s firmer demand boosted its importance as a key outlet for base oils from refiners throughout the Asia-Pacific region.It also curbed the size of any build-up of surplus base oils supplies in the region at year-end.Thailand’s economy got support from a recovering tourism sector in 2023. At the same time it faced pressure from shrinking industrial production and weak overseas demand.Rebounding engine oils consumption mirrored the pick-up in retail and services-related activity.HDEO consumption rose by 19pc in November, and passenger-car motor oils by 12pc.Demand for other lubricants also rose, but at a slower 5pc pace..Thailand’s Nov base oils supply rises