The global pandemic is having a major impact on the lubes and auto industry worlwide but there are some positives.
Lubes producers are identifying partnerships, new markets and product innovations to differentiate in a constantly changing global environment.
Many of the oil majors are taking a greener approach to product development and how they run their businesses.
The oil majors delivered disappointing short-term news to thier shareholders after earning and profits were hit across the board as a result of lower oil prices and increased costs.
A mixed set of Q2 2019 reports from the oil majors and lubes producers including Shell, BP, ExxonMobil and Fuchs.
A generally volatile market has led to slightly depressed numbers for most of the oil majors at the start of the year, but their CEOs are confident of being able to manage the volatility.
BP's highest quarterly results for more than five years demonstrates the trend of increased profits and revenue for oil majors.
Rising commodity prices and US tax reforms boosted 2017 Q4 and annual results for the oil producers.
Almost all oil majors are reporting increased sales and profits.
Transparency Market Research predicts Independent Lubricant Manufacturers Market set to reach nearly US$9.5bn by 2025