• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 10 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 hour U.S. Presidential Elections Status - Electoral Votes
  • 14 hours Evergrande is going Belly Up.
  • 6 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 17 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 3 days Poland Expands LNG Powered Trucking and Fueling Stations
  • 3 days World’s Biggest Battery In California Overheats, Shuts Down
  • 2 days The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 1 day Ten Years of Plunging Solar Prices
  • 2 days Extraction of gasoline from crude oil.
  • 4 days The coming Cyber Attack
  • 4 days Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 4 days Ozone layer destruction driving global warming
  • 4 days 'Get A Loan,' Commerce Chief Tells Unpaid Federal Workers
5 Oil Stocks That Yielded 100% Returns In 2021

5 Oil Stocks That Yielded 100% Returns In 2021

Description: As oil and gas…

How To Buy Discount Gold As Inflation Soars

How To Buy Discount Gold As Inflation Soars

Rising oil prices historically means…

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

More Info

Premium Content

Oil Demand Under Siege As Airlines Cancel Over 50,000 Flights

Over 54,011 airline flights scheduled to, from, and within China between January 23 and February 4 were canceled, according to Cirium data cited by CNBC, creating a ripple effect for global oil demand.

The 50,000+ flights account for 28% of all scheduled flights to, from, and within China, and 14% of those flights that were canceled were international flights.

And more cancellations are coming.

And as much as China is hoping that airlines will not get too carried away by cancelling flights, even China’s state-run airlines are considering flight cancellations. Earlier this week, Air China announced that it was canceling some flights to Singapore, Vietnam, and Australia, and is considering limiting its China to US service to just two routes.

China has the second highest number of airline passengers in the world behind the United States, although it is expected to surpass the US in the number of passengers some time this decade.

The flight cancelations have cut into jet fuel sales, which slumped by 25% in the last week of January—a slump that will no doubt trickle down to its source—crude oil.

Jet fuel, a middle distillate, has been a mainstay of the crude oil industry. While crude oil has other, larger, applications, its demand growth is expected to outpace all other petroleum products in the next couple decades, according to the IEA, which sees jet fuel demand rising 50% by 2040.

And because demand for jet fuel has been secure with no viable alternative, the oil industry hasn’t been too worried about the world giving up on jet fuel. The rest of the transportation sector remains under threat by electric vehicles.

Airlines and world leaders are restricting travel in a mad dash to contain the coronavirus epidemic, which has so far claimed the lives of more than 560 people and infected 28,000.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News