A reluctance by Chinese tourists to travel overseas is said to be the main reason why jet fuel shipments have yet to return to their pre-Covid levels, says a top shipbroker.
In 2019 jet fuel consumption peaked at 8m barrels per day (bpd), representing about 8% of total oil demand, according to Poten & Partners.
But by 2020, jet fuel demand fell dramatically when Covid-19 caused widespread global lockdowns with demand falling to 4.7m
