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Chinese International Air Travel Still Lags Well Behind Pre-Pandemic Levels

JET FUEL

The Chinese international air travel demand rebound is sputtering, which is weighing on global crude demand expectations in 2023.

  • Air carriers from the US and EU have been restricted from flying across Russian air space to get to China which has heavily hit airline scheduling and limited flights in and out of the country.
  • Long-haul flights involving the country and its neighbors account for the largest incomplete share of the return to pre-Covid activity, according to the International Energy Agency.
  • While jet fuel still leads oil demand growth this year, airlines are expected to use 700,000 barrels a day less than in 2019, consultant FGE said, citing fewer China flights and fuel efficiencies.

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