Can Rising Jet Fuel Demand Save China’s Oil Consumption Growth?

A rebound in China’s airline traffic this year has boosted jet fuel demand in the only bright spot in transportation fuel consumption in the world’s top crude oil importer. Chinese refiners, which have seen depressed refining margins for producing gasoline and diesel amid weak demand, are now cranking up jet fuel output to seize the higher margins in this segment as demand jumps by double digits. Airline passenger and flight numbers are soaring this year compared to 2023 after nearly three years of Covid-related lockdowns were removed…