September 28, 2023 09:58 GMT
Europe to Drive Fall in Jet Fuel Demand: BNEF
Passenger jet fuel demand is set to fall for a seventh consecutive week amid a lull in travel during the Northern Hemisphere’s autumn, according to BNEF.
- Implied jet fuel demand is set to fall 0.3% on the week to 6.41m b/d, based on flight schedules for Sep. 26-Oct. 2.
- Eastern and Western Europe are leading the fall with a fall of 18.3k b/d, while demand is set to rise in Asia, Latin America and Oceania.
- US passenger numbers over September 16-22 grew 2.5% on the week. Downside risks remain amid flight cancellations, bad weather, potential operational issues at both airlines and airports, and elevated jet fuel prices.
- In China, domestic flights are set to grow by 8.2% over the next four weeks, with the Golden Week holiday in early October boosting jet fuel demand. The actual growth may be lower, as China often cuts thousands of flights at short notice.
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