International aviation restrictions are still preventing jet fuel from recovering as fast as other oil products, a Rystad Energy analysis reveals. Most of the demand destruction seen in road fuels since the outbreak of the pandemic has now been reversed, and jet fuel has thus become by far the top laggard that is keeping total oil demand from recovering to pre-Covid-19 levels. Asian jet fuel demand in particular just slipped to below European levels for the first time since July 2010, a stunning setback as it had been about 50% ahead in January 2020. Looking at the total demand for oil products, much of the Covid-19 effect of 21 million barrels per day (bpd) destruction in April 2020 has been reversed, with July’s demand landing about 4.5 million bpd lower than its pre-pandemic level. Our August estimate stands at 4.4 million bpd but based on month-to-date mobility restrictions in […]