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OIL PRODUCTS
Chinese flying activity steadies after post Labor Day holiday blip.
- The Chinese Labor Day holiday at the start of the month helped boost air travel and represented the first major public holiday free from restrictions in over three years.
- Chinese flying activity represents one of the main drivers of global oil demand growth in 2023 – in particular international travel which still lags well behind pre-pandemic levels at around 40%. Domestic flying meanwhile hovers around parity.
- Both metrics are well above year ago levels (see chart) when pandemic restrictions throttled air travel.
source: Airportia
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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