Recovery of Crude Oil Prices: the appearance of green shoots



The EIA, citing the commercial flight data from Cirium, says that the demand for jet fuel has recovered faster than we all feared during the pandemic.

Since the above data source accounts for more than 73% of US commercial flights, according to the EIA, it is a pretty reliable indicator about the faster recovery.

The air-line industry, especially in the US, has been there before: in the aftermath of 9/11, after the terrorist attack, there was a plunge in the number of passengers, only to recover, a few months later.

In this context, as the fear of passengers subsides gratually the number of flights will pick up in proportion to the collective positive sentiments of the public.



Popular posts from this blog

Oil price closer to $70 a barrel: it's more realistic, sustainable and better than pursuing unrealistic goals

Oil Price and Lingering Suez Factor

What caused the downward trend in crude oil price?

Crude Oil: latest news