- U.S. travel rebound provides optimism of a strong jet fuel demand recovery this summer (Bloomberg)
- According to United CEO Scott Kirby, the domestic leisure travel business has fully recovered to pre-pandemic levels
- U.S. jet fuel demand has more than doubled from pandemic lows. Still, international and business travel has been a laggard thus far
- The number of passengers checking in through security checkpoints surged to 1.85 MM people on Sunday, its highest since March 2020 or only about 30% lower than during the same time in 2019
- Fuel exports soar from India as the country deals with dissipating demand due to its recent COVID wave
- India's gasoline and diesel exports have increased by 85% and 65% month-over-month, according to Vortexa
- Local lockdowns have caused road transport fuels demand to fall by nearly 20%, according to Bloomberg
- EIA forecasts U.S. shale production increasing by 26 MBbl/d to 7.733 MMBbl/d in June
- U.S. shale supply is still 1.4 MMBbl/d below March 2020 levels
- The Perman is the only basin expected to see slight growth of 54 MBbl/d next month