Volume 3 Issue 24
Slow Recovery Forecast for U.S.
June 8, 2020The lubricants market faces a “very gradual” recovery, regardless of the ultimate size of the dip in the economy or the economic modeling scenario, consultants from IHS Markit said during a virtual town hall meeting organized by the Independent Lubricant Manufacturers Association last week.
Lube Demand Drops in Brazil
June 8, 2020The Covid-19 pandemic has hammered Brazil’s finished lubricant industry, a consultant said this week, causing a sharp reduction in demand that could endure for some months.
Auto Sales Start to Turn Corner
June 8, 2020New light vehicles sales in the United States are expected to reach near 1.1 million units in May according to a recent forecast by Cox Automotive, down 33 percent from a year earlier but 49 percent higher than the previous month. The firm said those results indicate a step towards recovery from Covid-19 pandemic.
Briefly Noted
June 8, 2020ExxonMobil and Innio extended their global lubricant approval agreement for the original equipment manufacturer’s Jenbacher natural gas engines. Austria-based Innio also has primary operations in Canada in Welland, Ontario, and in the United States in Waukesha, Wisconsin.