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European Jet Fuel Demand Rising Amid Surge in Flights

JET FUEL

Jet Fuel demand in Europe is set to rise amid a surge in flight numbers according to Rystad Energy.

  • Demand for jet fuel is likely to exceed earlier forecasts by 100kb/d in May as the number of flights in Europe has surged above 2019 levels.
  • The increase in flights numbers is driven by a steady rise in international flying since April as Europe’s flights have risen 12% y/y.
  • Jet fuel demand is expected to grow further by 400kb/d from April to August.
  • “The strength of the jet fuel crack is giving refiners a signal to increase jet fuel yield at the expense of other refined products.”
  • US flight counts are about 3% above than levels from a year ago having trended above 2023 levels since mid-February.
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