- November jet fuel demand 131,000b/d lower in China alone
- Some 23,600 flights cut over the next 11 weeks in China
China has cancelled almost 24,000 flights over the coming 11 weeks since this time last week, as its ‘Zero Covid-19’ policy once again hits the jet fuel market. In the absence of these flights, jet fuel demand in November will be 131,000 barrels per day, or 15.8%, lower than the schedule implied previously as a result.
China consumes almost one in every five barrels of jet fuel used in passenger flights globally. As demand in the world’s second largest aviation market continues to be hit by Covid-19 restrictions, the global jet fuel market will suffer as other markets like gasoline and diesel recover.
International flights from China remain all but grounded as the region’s strict travel rules choke any potential recovery in travel demand. Shenzhen Airlines, China Southern Airlines, Air China and China Eastern Airlines are most affected by the cuts. However, jet fuel producers and suppliers to Asia Pacific will particularly feel the pressure as the largest consumer in the region purchases lower volumes.
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