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Global Jet Fuel Demand Soars, Boosting Oil Prices

Global Jet Fuel Demand Soars, Boosting Oil Prices

Jet fuel demand is rebounding across regions as people have shaken off the pandemic years and are traveling en masse again, with kerosene demand driving global oil demand growth this year. Total passenger numbers on airlines are set to hit a record high this year, at 4.96 billion, the International Air Transport Association (IATA) said last week in its latest forecast of airline profitability. “With a record five billion air travelers expected in 2024, the human need to fly has never been stronger,” IATA’s Director General…

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