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Global Jet fuel Demand to Fall for Second Consecutive Week

OIL PRODUCTS

Implied global jet fuel demand will fall by 0.6% on the week to 6.67 million barrels a day, continuing the previous week’s decline, according to BNEF.

  • Demand is falling as the summer travel season comes to an end, curtailing the appetite for air travel.
  • Jet fuel demand from domestic and international flights is projected to fall by 1.0% and 0.3% on the week, respectively.
  • North America leads the weekly demand reduction, with a drop of 2.1%.
  • In Europe, departures in the Eurocontrol area from Aug. 14- 20 declined by 0.9% on the week.
  • In China, the number of domestic flights is set to fall by 0.6% over the next four weeks, according to current schedules.
  • Global airline capacity is set to decline by 0.3m seats to 115.9m in the week commencing Aug. 21, according to OAG.
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