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Lockdowns subdue Australia’s September jet fuel demand

  • Märkte: Oil products
  • 16.11.21

Australian jet fuel demand remained subdued in September with continued Covid-19 lockdowns in Sydney and Melbourne, with domestic demand lower than the monthly average and demand for international flights departing the country relatively steady.

Jet fuel demand averaged around 55,000 b/d in September against 52,000 b/d in August, data from the Australian Petroleum Statistics (APS) showed.

Domestic demand is expected to show increases with Sydney emerging from its lockdown on 11 October and Melbourne on 22 October. This coincided with more domestic flights from the main airports at Australia's two largest cities.

International flights was the dominant driver of Australia's total jet fuel consumption, which reached almost 102,000 b/d in 2019, the last full calendar year before the Covid-19 pandemic began to curtail international air travel significantly.

Refined jet fuel produced in Australia dropped to an 11-month low in September of around 9,000 b/d. The fall coincided with the shutdown of ExxonMobil's 90,000 b/d Altona refinery in Melbourne, Victoria, which leaves just two refineries in Australia with a combined capacity of 237,000 b/d.

Australia jet fuel sales(b/d)
Domestic InternationalTotalRefinery outputJet fuel imports
Sep '2128,17626,64654,8229,22443,124
Aug '2125,29926,94352,24211,56434,090
Sep '2022,93524,46547,40010,73438,889
Jan-Sep '2136,72326,16562,88716,29351,659
Jan-Sep '2029,68845,18774,87525,82751,673
2021 (YTD) vs 2020 (YTD) % ±23.70-42.10-16.01-36.92-0.03
y-o-y % ±22.858.9115.66-14.0610.89
m-o-m % ±11.37-1.104.94-20.2326.50

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