Restrictions on long-distance flights and the surge in COVID-19 in India will keep jet fuel demand below pre-pandemic levels over the coming months, even as an easing of lockdown in some parts of the world boosts jet fuel demand. Goldman Sachs expected jet fuel demand would rise to 3.9 million bpd in May, compared to the low of 2.2 million bpd in May 2020. It predicted demand of almost 5.5 million bpd by the end of the year, compared with 7 million bpd at the same time in 2019. U.S. jet demand is expected to average 1.3 million bpd in 2021, up from 1.09 million bpd in 2020, but down from 1.75 million bpd in 2019, Suzanne Danforth of Wood Mackenzie said. Wood Mackenzie expects India's jet fuel demand to decline 6.5% in the second quarter from the first quarter.

Source: Mint May 10, 2021 14:15 UTC