Jet fuel demand growth lags as air traffic exceeds pre-pandemic level [Yahoo! Finance]
StoneX Group Inc. (SNEX)
Company Research
Source: Yahoo! Finance
years last week, but jet fuel demand growth has not kept apace as newer fleets of aircrafts become more fuel efficient and carry more passengers. Aviation fuel, a product refined from crude oil, has been the single biggest contributor to oil's post-pandemic bonanza, accounting for almost half the increase in total oil demand, according to the International Energy Agency (IEA). That makes jet fuel's pace of growth critical in forecasting how long it will take for fossil fuel demand to peak - the biggest question energy market participants are grappling with. Global consumption of jet fuel and kerosene fell to 4.7 million barrels per day (bpd) in 2020, as activity froze during pandemic lockdowns, down from a peak of 7.9 million bpd the prior year, according to the IEA. As the lockdowns ended and travel recovered, demand for the fuels jumped by more than a million bpd in 2022 and 2023, IEA data showed. But global demand growth is expected to be much smaller this year, at just 2
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SNEX
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- 2/6/24 - Beat
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Sec Filings
- 5/2/24 - Form 4
- 5/2/24 - Form 4
- 5/2/24 - Form 4
- SNEX's page on the SEC website