Free Trial

Transport Fuel Demand Growth Slows: JPMorgan

OIL PRODUCTS

Growth in global demand for transport fuels was 0.3m b/d for the week ending July 29 and down by 1m b/d from the prior week according to JPMorgan.

  • Year-to-date mobility fuels demand growth fell below 1.7m b/d.
  • Gasoline demand was down by 0.4m b/d y/y amid weak US demand with the four-week average below 9m b/d for the first time since April.
  • Road diesel demand also fell by 230k b/d y/y with European consumption falling again by -260k b/d y/y after a decline the previous week of -170k b/d y/y.
  • China’s diesel demand growth was 9k b/d with trucking activity at a five-week low and only 2.6% above 2022 levels.
  • Global flight activity fell from 96.8% of 2019 levels three weeks ago to 94.2%. Global jet fuel demand growth was unchanged at 0.8m b/d y/y supported by China’s international flights at 78.7% of 2019 levels.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.