Global Demand Trends: Reaching New Heights Before Omicron

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Global jet fuel demand reached a post-pandemic high in November before the Omicron variant sparked a fresh round of travel restrictions. Consumption in a group of representative countries edged above 2.7 million b/d, a 5.5% climb from October rates. Among key industrialized countries, Japan and Australia saw double-digit gains before both countries clamped down on international flights to curb the Omicron spread. Demand in Europe was flat even though the US had removed its travel ban in early November.

Oil Demand, Jet Fuel, Oil Inventories
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