Global jet fuel demand continues its post-pandemic recovery, but predictably, the regions that began to open up first have seen the most robust improvements. The US and Europe will drive the net balance into deficit in the second half of the year, while Asia lags behind.
The Chinese reopening has certainly injected a fresh set of uncertainties into a market already overrun with unknowns. In the weeks since China has undone much of the zero-Covid policies in place for more than two years, mobility has shown clear signs of picking up and yet, refinery runs surged to new highs months earlier.
