European Snapshot: Revival Gains Further Traction

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

Recovery in European jet fuel demand versus year-earlier gained further traction in September as fall travel schedules took effect. Consumption averaged more than 50% above 2020 rates for the month at some 3.7 million tons. On the supply side, production dipped to 2.1 million tons as refineries reduced crude throughput. Another 2.1 million tons of imported supplies came into the region. Some of that volume was diverted across the Atlantic to the US, where damage from Hurricane Ida had shut down Gulf Coast refineries in late August.

Refining, Jet Fuel
Wanda Ad #2 (article footer)
Jet demand is still not back to pre-pandemic levels as international air travel struggles to recover.
Fri, Sep 29, 2023
Oil futures ended Tuesday higher while products prices closed down as the disconnect between so-called paper barrels and physical crude persists.
Tue, Oct 3, 2023
Refiners are pausing investments in new capacity amid concerns about "stranded assets" as the energy transition advances.
Tue, Oct 3, 2023