Annual jet fuel consumption in the United States grew in 2023 for the third year in a row but remained below the pre-pandemic peak in 2019. https://lnkd.in/ecp45cH4
U.S. Energy Information Administration’s Post
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New: Global flight activity surpassed its pre-pandemic peak recently, putting the focus on jet fuel demand which continues to lag. Analysts expect aviation fuel demand to hit a record only later this decade, if at all, as newer planes have helped lift the global fleet's efficiency and cut fuel consumption. More at Reuters with Seher D.. #oil #aviation #fuel
Jet fuel demand growth lags as air traffic exceeds pre-pandemic level
reuters.com
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Multiple constraints on the aviation sector are inhibiting full recovery in global jet fuel demand four years after the pandemic. Learn more from our analysis and projections for jet fuel consumption around the world >> https://bit.ly/3SVgLPa #aviation #jetfuel #oil #oilmarkets
Constraints on Aviation Impede Jet Fuel Demand Recovery
energyintel.com
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Jet fuel demand growth lags as air traffic exceeds pre-pandemic level
Jet fuel demand growth lags as air traffic exceeds pre-pandemic level
hydrocarbonprocessing.com
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Jet fuel consumption is still lower than it was pre-pandemic. Jet fuel consumption is around 1.65 million barrels per day, which is 5% lower than pre-pandemic. It dropped to 1.08 million barrels per day during COVID-19 and has slowly increased for the past few years. Why do you think it is still below the numbers for 2019? What needs to happen to get there? Lastly, how much longer until it surpasses 2019 and reaches new highs? #avaition #jetfuel #jet #privatejet #economy
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Carbon pricing is often recommended by economists as a way to reduce greenhouse gas emissions. However, in practice, several different carbon prices are used in the aviation sector. What are each of these prices, and why do they differ? And are carbon markets even working correctly? Read our Agenda article to find out more: https://lnkd.in/eND2aF5u #greenhousegasemissions #aviation #transport
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Despite ongoing challenges in the global aviation sector, jet fuel demand continues to grow, with levels returning to pre-COVID figures. A key driver of the upward trend in 2023 was the increase in international and national passenger traffic, with the passenger aviation sector estimated to represent more than 80% of global jet fuel consumption. Progress towards recovery continues into 2024, underscoring the industry’s resilience and adaptability. According to the International Air Transport Association (IATA), Revenue Passenger-Kilometres (RPKs) saw a 16.6% growth in January 2024 compared to the previous year, with traffic levels reaching 99.6% of 2019 levels. (Source: Air Passenger Market Analysis [iata.org]) Despite facing challenges such as labour shortages, supply chain limitations, inflationary pressures, and geopolitical uncertainties, airlines have achieved traffic levels equivalent to 89% of pre-pandemic levels. (Source: IATA – Chart of the Week, 9 February 2024) BloombergNEF (BNEF) anticipates jet fuel demand will reach pre-pandemic levels by 2025, driven by sustained air travel demand and limited decarbonisation alternatives. Despite efforts for greener solutions, jet fuel remains a significant contributor to annual oil demand growth, notably evidenced in 2023 when China resumed flights after lifting Covid-related travel bans. Air traffic within Asia saw a remarkable 127% surge in 2023 compared to 2022 levels, and China’s jet fuel demand surge has been one of the main drivers of oil demand growth globally. (Source: Air Passenger Market Analysis [iata.org]) "The chart below shows the Differential between Jet NWE Cargo Swap (the main European Benchmark) and Gasoil Swap as of Tuesday 12th March close. Data is sourced directly from Tradition’s Middle Distillate desk." Francesca Marrone, Product Manager - Energy & Commodities. At TraditionData, we leverage our leading broking desk expertise and market insights to offer clients reliable, independent, and market-driven indicative pricing. Get in touch to find out more about our comprehensive data coverage for Crude and Refining products, and unlock new opportunities by gaining insight into traditionally opaque markets. 📧 [email protected] 💻 https://lnkd.in/eHSiW52e #jetfuel #bloombergnef #airtraffic #aviationindustry #gasoil #crudeoiltrading #MarketData #TraditionData
Jet Fuel Demand Shows Promising Signs of Recovery | TraditionData
https://www.traditiondata.com
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Refineries have started producing sustainable aviation fuel (#SAF) to replace fossil-based fuels to achieve their customers' #sustainability goals. However, the pre-treatment process for producing SAF generally involves corrosive fluids and gumming-type applications. Read how Emerson’s expertise helps refiners choose the right control #valve solutions to achieve their goals for productivity, longevity and profitability of the production unit: http://ow.ly/Qzni1054V2V
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US airline fuel consumption is the highest in a generation. It’s good news for refiners. And a challenge for decarbonization. Airlines used more fuel in July 2023 than in any July since 2001. That’s what we see in the charts below. The top chart shows monthly fuel consumption for US airlines going back to 2000. We can see three step change reductions in fuel use: ① The first came after the September 11, 2001, terrorist attacks. We’ll come right back to this one. ② The second was the global financial crisis circa 2008. ③ The third was the COVID-19 pandemic, whose scale blows the two earlier dislocations out of the water. The bottom chart shows fuel consumption for US airlines in the month of July, from 2000 through 2023. Fuel use in July 2023 was the highest it’s been since July 2001, just before the September 11 attacks reset airline fuel demand for a whole generation. Yes, we’ve had efficiency and operational improvements over the years that mitigate fuel demand. Still, it’s pretty wild to see how long-lasting these dislocations can be. Look at the recovery from the pandemic. It’s like a lot of other charts we see of post-pandemic activity – a rocket ship of recovery back to, and then past, pre-pandemic levels. This is of course good news for petroleum refiners. Anything that drives up hydrocarbon fuel demand will be an economic win for them. It also throws into relief the challenges of combating greenhouse gas emissions from air travel. It’s a large and growing sector that relies critically on the high energy density we get from hydrocarbon fuels. With the global population growing, and global economic GDP per capita rising, we should expect air travel activity to continue to climb. It’s a vexing challenge when we consider our broader, economy-wide decarbonization efforts. #energy #airlines
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Want to know more about short and middle term SAF production pathways to reduce GHG emission in aviation ? Below is an article positioning the synergy between feedstock and current refineries facilities and the development still required to scale the more near term future technology based on Alcohol to jet, biomass gasification, etc … You might want to take a look ✈️
Commercialization of #feedstocks is a critical catalyst in the evolution of #SAF. So, what are the key factors to consider as the aviation industry moves forward? · What feedstocks are available today? Which will require longer range investment, financial support, and technology development to achieve the scale and reliability needed to help reduce CO2 emissions? · Which pathways can help the #aviation industry make progress towards its net-zero GHG emissions goal? Read more about feedstocks and their role in the evolution of SAF: https://lnkd.in/eEYcyYnQ #SAF #feedstocks #LEF #aviation #regulation #exxonmobilaviation #aviationfuel #energytransition
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Dual Fuel fleet additions continue to rise: Increase of c.72% year-on-year comparing 2018 vs 2023 #zeroemissions #vessels #tankers https://lnkd.in/gb_fkaBx
Dual Fuel fleet additions continue to rise: Increase of c.72% year-on-year comparing 2018 vs 2023
https://www.hellenicshippingnews.com
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