European Snapshot: Summer Traffic Surge Lifts Jet Demand

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Summer travelers flocked to the skies above Europe and lifted the region's jet fuel demand to a post-pandemic peak of 5.8 million tons in August. Consumption climbed 3% above July levels and was nearly 50% higher than year-earlier rates. European plants ramped up jet fuel supplies at volumes that were 50% higher than in 2021 to meet the surge in demand. Refineries shifted yields back toward jet fuel, since crude throughput was just 2% higher than year-earlier levels. Cargo imports reached record levels of 3.3 million tons to fill the gaping shortfall between Europe's supply and demand.

Jet Fuel, Oil Demand
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