Jet Set
Over the past 3 years jet fuel demand has taken a hammering, with the product by far the most impacted by the pandemic for obvious reasons. However, whilst jet fuel was hardest hit, it was also the fastest growing product group in 2022 and is predicted to continue that trend this year. Aviation will contribute 1.1mbd (50%) to global oil demand growth this year – more than double any other product. China will contribute nearly 90% of this growth, with pent up consumer demand after years of strict lockdowns fuelling the increase in both domestic and long-haul aviation.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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