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Global Jet Fuel Demand to Surpass 2019 Levels in 2024: Argus

JET FUEL

Global jet fuel demand is likely to exceed pre-pandemic levels in H1 2024, according to Argus.

  • This is despite a challenging macroeconomic outlook and the drag an economic slowdown will have on demand.
  • The full recovery will depend on China, Argus said. The APAC region continues to have the widest gap between current and pre-pandemic jet demand.
  • India is likely to be the largest contributor to global jet fuel demand growth, as the third-largest domestic air passenger market after China and the USA
  • Supply of jet fuel will be aided by a fully functioning Al-Zour refinery in Kuwait, which exported 11m mt of jet fuel by Sea in 2023. This will also compensate for the UAE’s move to prioritise diesel production.

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