• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 23 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 3 days Wind droughts
  • 18 hours Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 7 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 57 mins ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 5 days Oil Prices Fall After Fed Raises Rates
  • 6 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 13 days "Russian oil executive and Putin critic Ravil Maganov dead after mysterious six-story fall" - The New York Post
  • 4 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 9 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 12 days The Federal Reserve and Money...Aspects which are not widely known
Gasoline Prices Could Return To $5 Per Gallon

Gasoline Prices Could Return To $5 Per Gallon

The struggling global supply chain…

Oil Demand Boosted By Highest Number Of Flights Since COVID Started

The number of commercial flights looks to have hit a post-pandemic high in the past days, outstripping the previous high from Christmas travel and potentially boding well for jet fuel demand going forward.

According to global flight tracking service Flightradar24, as reported by Bloomberg News’ Chief Energy Correspondent Javier Blas, the 7-day rolling average of the number of flights tracked by Flightradar24 hit the highest on Wednesday since the start of the pandemic. Flightradar24 tracked a total of 77,708 flights—both passenger and freight—a number which exceeded the previous peak during the Christmas holidays since COVID started spreading. Higher numbers of flights in the major markets—the United States and China—were behind the increase, according to Bloomberg.

Rising numbers of air travelers could help global aviation fuel demand, which has been hit the hardest by the pandemic with international flight restrictions and quarantines.  

In the United States, the number of air travelers in a day exceeded 1.5 million at the end of March, for the first time since the middle of March 2020, in a good sign for oil demand as U.S. citizens start to travel more, including by plane.

Travel and consumption patterns in the world’s top oil consumer, the United States, and in the world’s top oil importer, China, point to recovering demand for petroleum products. Those two countries—major consumers of crude—could lead global oil demand out of the woods and lead the global consumption rebound later this year.

While air travel could rebound from the record lows of last year, renewed lockdowns in Europe continue to be a concern for forecasters, including the OPEC+ group, whose Joint Technical Committee (JTC) revised down this week its oil demand growth forecast for 2021 by 300,000 barrels per day (bpd). The JTC’s base-case scenario, according to a report Reuters has seen, now forecasts demand growth of 5.6 million bpd, down by 300,000 bpd compared to the previous forecast.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Mamdouh Salameh on April 02 2021 said:
    This will accelerate the return of global oil demand to pre-pandemic level of 101 million barrels a day (mbd) by the middle of 2021 as I have been projecting for the last few months.

    Global demand boost is being spearheaded by the world’s two largest economies: China and the United States. This demand impetus coincides with President Biden’s $2 trillion economic stimulus and China’s projected 8.1% economic growth this year according to the IMF.

    Dr Mamdouh G Salameh
    International Oil Economist
    Visiting Professor of Energy Economics at ESCP Europe Business School, London

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