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.
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).