Shell Sees Global Jet Fuel Demand to Return to Pre-Pandemic Levels by 2024

Energy major Shell expects worldwide aviation fuel demand to recover to pre-pandemic levels of 300 million tonnes annually over the next one to two years.

President of Shell Aviation Jan Toschka told Reuters on Tuesday that demand in the United States has returned to 2019 levels, while consumption in Europe has rebounded to over 80% and is on track for full recovery in the next year.

“Asia has been a bit more of a bumpy road with markets opening up and closing down but mostly we expect Asia in particular, in the next year, to come back, but it might take another year before we see the full potential of the market,” he said.

However, with the European Union’s restrictions on Russian oil products, Europe’s jet fuel supplies are tightening, forcing the region to purchase more gasoline from the United States, China, India, and the Middle East.