China's domestic jet fuel demand back to near pre-COVID levels

China’s domestic aviation fuel consumption rebounded to near pre-COVID levels in September, thanks to a fast recovery in passenger travel and cargo freight, although demand from international flights remained weak, industry sources said. Domestic aviation fuel sales amounted to about 2m tonnes (523,300 barrels per day) last month, the highest since February and slightly below January, said two sources with knowledge of the matter. Domestic flights account for roughly two-thirds of China’s overall consumption of the aviation fuel. The rebound in jet fuel demand has improved Chinese refiners’ margins and enabled them to process more crude. From late October through March, domestic consumption will receive a further lift as China adds more flights to the seasonal winter/spring air traffic planning. Between Oct. 25 and March 27, Chinese airlines will fly 84,634 domestic flights a week, 19.8% more than the year-ago level, while weekly cargo flights will rise nearly 40% to 2,101, the CAAC said last week.<br/>