While oil demand in aviation hasn't reached pre-pandemic levels, a rise in business aviation has helped. Credit: Adobe Stock
Key Takeaways:
Global oil demand has largely recovered in most sectors, but the depressed demand for aviation fuel (kerosene) due to ongoing COVID-19 travel restrictions prevents a full return to pre-pandemic levels.
China has been a primary driver of the global oil demand recovery, particularly in its transport and expanding petrochemical sectors.
While overall aviation fuel demand lags, business aviation has surpassed 2019 activity levels, and commercial travel is recovering, leading to jet fuel demand outpacing production and causing supply chain disruptions.
It’s been a good year for oil around the world in most sectors, all except one: aviation, according to a new report by a U.K.-based data analytics organization.
The depressed demand for aviation-sector kerosene, a primary ingredient in jet fuel, is all that stands in the way of a full recovery for oil products in the third quarter in 2021, GlobalData said.
CREATE A FREE ACCOUNT
Sign up to keep reading
Create a free account to continue. Already a member? Sign in below.
