Jet Fuel Weakness Undermines Global Oil Demand Recovery

摘要

Jet fuel has become the Achilles heel of the global oil demand recovery, even though it accounts for a sliver of refinery yields. With the aviation sector still reeling from depressed air travel demand due to the coronavirus, jet fuel is partly responsible for the slower than expected rebound in overall consumption. Global oil products demand is expected to slip by 8 million-8.3 million barrels per day from last year and sink to around 92 million b/d for 2020, according to presen- tations by Vitol and BNP Paribas at the recent Asia-Pacific Petroleum Conference (APPEC).