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June 23, 2023

Jet Fuel is one of the bright spots for future oil demand

With the adverse effects of the Covid-19 pandemic mostly in the rearview mirror, oil market pundits forecasted that air-travel would rapidly recover to pre-Covid levels.  This would have provided a much-needed boost to global oil demand.  However, this widely anticipated recovery has not materialized so far.

For a variety of reasons, global jet fuel demand has – so far – remained well below 2019 levels. In this opinion we will discuss some of the causes for the short-term challenges, the reasons to remain optimistic for the medium to long-term and the potential implications for the tanker market.

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