Jet Fuel Taking Off

April 19th 2024: Jet Fuel demand is still recovering from the pandemic Global jet fuel demand was affected significantly during the pandemic when countries closed their borders and airlines drastically reduced flights as passengers decided to stay home. In the last two years, business and leisure travel has recovered significantly. This week we will take a look at current and future global jet fuel demand and the impact on the product tanker market. In 2020, many countries restricted travel and additionally, passengers voluntarily limited their flights as COVID-19 spread. As a result, global jet fuel demand declined by 3.2 Mb/d (40.3%) in 2020. OECD demand declined by 42.2% while Non-OECD fell slightly less by 37.7%. Chinese jet fuel demand declined by only about 16.5% in 2020, as they managed relatively quickly to get the spread under control; but then declined again (by 28.6%) in 2022, as parts of the country locked down again when the disease reappeared. Please fill below form to continue read.