28 Jan 2022

JBC in the Media - Xinhua

"Additional gains from road fuels beyond a demand normalisation will be increasingly difficult to achieve. With petrochemical demand growth also unlikely to proceed at its recent pace, additional demand growth from here onwards will increasingly rely on a continued upswing in air travel demand," said a research note by JBC Energy on Wednesday.

JBC expected that the annual average of global oil demand for 2022 would stand at 100.5 million barrels per day, some 500,000 barrels per day above its 2019 levels.