Increased Oil Demand from Shipping and Aviation: Insights from Vitol
Friday, 22 March 2024, 00:35
Insights from Vitol
Vitol, the world's largest independent oil trader, reports a surge in demand from the shipping and aviation sectors. CEO Russell Hardy emphasizes the shipping industry's need for more fuel to navigate longer routes safely.
Jet Fuel Demand Resurgence
Kieran Gallagher from Vital Bahrain notes the recovery in jet fuel demand to levels seen in 2019, indicating a potential rebound in the aviation industry.
Market Outlook
- Bullish Trends: The oil market is experiencing favorable conditions and growing demand from key sectors.
- Industry Insights: Experts observe increased consumption patterns in response to geopolitical and market dynamics.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.