Weakness in the Japanese economy took a toll on the country’s jet fuel demand, which dropped to 226,000 barrels per day in August and fell 12.3% below year-earlier rates. Liftings of bonded fuel used on international flights and domestic supplies were off by 11% and 14%, respectively, as airlines revamped flight schedules to reflect lower passenger numbers. The oil industry reacted quickly, with Japanese refiners trimming jet output to 284,000 b/d in August while exports fell to 49,000 b/d.
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