PHOTO: LIM HUEY TENG/REUTERS
The downturn buffeting the global aviation industry has slashed demand for jet fuel, posing yet another obstacle to the oil market’s recovery.
Cars and trucks quickly returned to the road when officials lifted restrictions on movement this spring, sparking a revival in gasoline and diesel consumption. Planes have been slower to take back to the sky, hobbling sales of kerosene, or jet fuel.
Demand for passenger flights this year is likely to decline by more than half compared with 2019, the Organization of the Petroleum Exporting Countries said Thursday. Fuel consumption in the aviation sector won’t surpass pre-coronavirus levels until closer to 2025, the group said in its annual report on oil’s long-term future… Read more https://www.wsj.com/articles/the-oil-market-has-an-aviation-problem-11602235754
