Oil demand ramps up air miles
Jet fuel will play crucial role in oil consumption growth even with efficiency gains and environmental curbs, with geopolitical risks highlighting importance of plentiful stocks
When Israel began bombing Iran on 13 June, Brent crude prices rose by 6.10%, while jet fuel prices in Northwest Europe surged by 6.42%—highlighting Europe’s reliance on Middle Eastern aviation fuel supplies. Both OPEC and the IEA emphasised jet fuel’s role in oil demand growth in their latest oil market reports. The IEA mentioned that demand may not return to pre-pandemic levels before 2027 due to the shift toward sustainable aviation fuel (SAF). OPEC, on the other hand, cited jet fuel and gasoline as the primary drivers of oil demand growth in both OECD and non-OECD countries this year. 6.42% – Rise in jet prices in Northwest Europe While global jet fuel demand is recovering, Europe
Also in this section
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
16 July 2025
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
15 July 2025
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
15 July 2025
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
