Jet Fuel Demand Takes Off Despite Obstacles

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Airlines are emerging from the pandemic only to face more turbulence. Headwinds from high fuel prices, labor shortages and a precarious economic situation are complicating the recovery, which is now well underway. Pent-up travel demand has sparked a boom in air travel this summer, transforming jet fuel from the laggard to the fastest-growing refined product. Jet fuel demand is expected to post a 15% gain this year to 6.5 million barrels per day, according to latest Energy Intelligence assessments. A similar rise in 2023 should bring it close to peak 2019 levels of 7.9 million b/d. This year’s rebound would put jet fuel demand in the Americas just 7% below 2019 levels, with Europe showing a 15% shortfall. Asia is the farthest behind with regional demand expected to reach 75% of 2019 rates this year, our figures show.

Oil Demand, Jet Fuel
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