European Snapshot-Jet Demand Nosedives Amid Flight Restrictions

摘要

European jet fuel demand nosedived in March as air traffic plummeted, with the US banning flights from the EU to contain Covid-19 and other countries imposing flight restrictions. Widespread grounding of aircraft at regional airports pushed liftings down by 40% to 3.1 million tons. Refiners ratcheted back throughput to 74% of capacity to contain a mounting product surplus, with jet output falling to 2.6 million tons. But imports came into regional ports at relatively high rates of 2.6 million tons as East of Suez suppli-ers sent their excess supplies to Europe.