Reported 2 months ago
China's jet fuel demand is recovering with a 14% increase in air traffic compared to pre-pandemic levels, providing much-needed support to refiners facing declining gasoline and diesel consumption. Despite an overall sluggish economic environment and a shift towards gas vehicles impacting traditional fuel demand, jet fuel output from state-owned and private refiners is rising as they seek to capitalize on improved margins. Analysts predict that jet fuel demand may average 960,000 barrels daily in 2024, which is only slightly below levels seen in 2019.
Source: YAHOO