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Jet Fuel Demand Set for Modest Summer Growth: BNEF

JET FUEL
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Global passenger jet fuel demand is set to rise from 6.46m b/d in April to 6.56m b/d in May, according to BNEF.

  • BNEF also forecasts growth to 6.86m b/d in June, and 7.09m b/d in July. Total demand growth is around 8% between May and July.
  • Despite the uptick, jet fuel consumption over the next three months will only just exceed 2023 levels.
  • The annual increase over this period is expected to be 6%, far lower than the 26% growth in 2023 and 46% in 2022.
  • Western Europe is poised to drive global jet fuel demand gains in May, accounting for around 60% of the increases.
  • Demand from China’s international routes is seen rising by 67% on the year to averaged 162k b/d in the coming three months.

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Global passenger jet fuel demand is set to rise from 6.46m b/d in April to 6.56m b/d in May, according to BNEF.

  • BNEF also forecasts growth to 6.86m b/d in June, and 7.09m b/d in July. Total demand growth is around 8% between May and July.
  • Despite the uptick, jet fuel consumption over the next three months will only just exceed 2023 levels.
  • The annual increase over this period is expected to be 6%, far lower than the 26% growth in 2023 and 46% in 2022.
  • Western Europe is poised to drive global jet fuel demand gains in May, accounting for around 60% of the increases.
  • Demand from China’s international routes is seen rising by 67% on the year to averaged 162k b/d in the coming three months.

Keep reading...Show less