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China

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Jet kerosene demand is rebounding in September as air traffic recovers from its recent Covid-19 setback. Apparent jet demand in July plunged by 16% from June to 741,000 b/d, which also represents an 11% drop from last July, according to Energy Intelligence calculations using Chinese government data. Apparent demand does not include changes in inventory levels. Chinese refiners slashed July production in response to a Covid-19 outbreak in Jiangsu province. The government also discouraged travel in August to stop the spread of the virus, which restricted production and demand in August. With the outbreak now contained, recovery in air traffic has been swift. Scheduled Chinese airline capacity for the week of Aug. 23 jumped by 12% from the previous week and climbed by 6% in the week of Sep. 6, according to aviation data analysis firm OAG. Capacity is currently just 5.7% below levels in the same week two years ago before the pandemic, OAG noted.

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