23 Apr 2021 Featured in: Americas Weekly - Issue 16

Research Highlights - Week 16

The implied demand recovery in the US is now almost complete after the long-running demand destruction brought about by the pandemic, albeit to a varying degree among individual core products (see Americas Weekly – Issue 16).

image
  • The demand comeback over the last few weeks was primarily gasoline-driven, the road fuel being the main benefactor of the steady easing of lockdown restrictions throughout the country.

  • Implied diesel demand, meanwhile, continued to trend largely in line with 2019 levels over the last few weeks.

  • More interesting, however, is the development of implied jet demand, which managed to increase by over 300,000 b/d over the last 6 weeks (+40%), which may point at the beginning of the final recovery stage in total product demand.