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Robust Summer Gasoline Demand Despite Recent Weakness: Rystad

GASOLINE

Global gasoline demand will remain robust this summer despite recent market signs of weakness, according to Rystad Energy cited by Bloomberg.

  • Global demand is estimated to rise above seasonal levels in the past two years and 2019 to reach 26.8mb/d in August.
  • “I see gasoline markets being balanced-to-strong for the summer,” said Mukesh Sahdev. “It’s likely the recent decline in US mobility is a temporary blip.”
  • Road travel has continued to recover from the pandemic, and the US election year will further boost travel, Sahdev added.
  • Closures of refineries and associate gasoline-producing units will lead to tighter supplies in the US and Europe.
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