Methodology Update: Chinese Jet Fuel / Kerosene Demand
We've improved how we calculate China's jet fuel demand to better reflect fuel used by international flights departing from Chinese airports.
Previously, when airlines bought jet fuel in China under the bonded fuel system (fuel sold tax-free for international flights), we counted this as an export. This meant the fuel was not included in China's domestic demand, even though it was loaded onto aircraft in China.
We've now changed this approach. Instead of treating bonded jet fuel as an export, we now count it as Chinese jet fuel demand, because the fuel is supplied and consumed in China before the aircraft leaves the country.
This brings our methodology into line with other major industry organizations, such as the IEA and JODI.
As a result:
China's historical jet fuel demand is now higher and more accurate.
The global jet fuel balance is also more accurate, removing a long-standing overestimation of global supply relative to demand.
These changes will be reflected as of July 7, 2026