Jet Fuel Demand Spike in China Rare Bright Spot for Refiners
- Processors boosting output as more travelers return to skies
- Industry still grappling with challenging outlook for diesel
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Jet fuel demand in China is on the mend as flights return to the skies, offering some support to domestic refiners grappling with muted diesel and gasoline consumption that’s weighed on the industry.
Oil processors in the world’s largest crude importer are lifting output of aviation fuel to take advantage of improved margins. Total air traffic grew by 14% in June, compared with same period in 2019 before the pandemic, with domestic flights up by nearly 18%, according to government data.