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  • S&P Global Platts Analytics: India’s jet fuel demand facing headwinds as third COVID wave looms

    Published on January 6, 2022

    • India’s kerosene/jet fuel demand is projected to rise by 57,000 b/d in 2022, after a sharp contraction of 104,000 b/d in 2020 and a modest 9,000 b/d increase estimated for 2021, JY Lim, adviser oil markets at S&P Global Platts Analytics, said Jan. 4. The country’s kerosene/jet fuel demand in 2022 is expected to be 16% lower than in 2019 as international traffic is likely to remain weak, especially in the near term due to omicron, he added.
    • Domestic jet fuel consumption rose 5.22% month on month in November to 504,000 mt, a 21-month high, latest preliminary data from the Petroleum Planning and Analysis Cell showed. It was last higher in February 2020 at 689,000 mt. India’s jet fuel demand over January-November 2020 was up 45.36% year on year at 2.98 million mt.
    • The country’s jet fuel production also surged 44.8% year on year in November, hitting a 20-month high of 1.06 million mt, and rose 12.4% month on month, preliminary data from PPAC showed. India’s jet fuel output was last higher at 1.13 million mt in March 2020, and the November figure marked a fourth straight month of increase since July, when COVID-19 woes forced Indian refiners to cut production to a nine-month low of 604,000 mt.

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