Global fuel demand declining again as new lockdowns start

New York — Brandon Thompson was planning on making an eight-hour drive this year from his home in Iowa to Ann Arbor, Michigan, to see his favourite college football team play. Then the pandemic hit.

Thompson would have driven more than 805km to see the game and go tailgating, where thousands of fans arrive hours early to sit in the parking lot and eat and drink. Across the country, fans of many sports would have made similar journeys. “The downwards trend in European mobility indicators is likely to continue, with pressure on road transportation fuels demand probable in the weeks ahead,” JBC Energy said in a note.

Non-rush traffic had been recovering in the US until September when it stalled, according to Artyom Tchen, senior oil market analyst at Rystad. Non-rush traffic levels globally are currently off by 1-million bpd from pre-coronavirus levels, Tchen said, to about 25.2-million bpd. In Germany, traffic is even lower, with visits to restaurants, cafés, shopping centres, theme parks, museums, libraries and cinemas falling by 12% last week.College football in parts of the US has been cancelled, leaving towns that normally swell to 100,000 or more on game day empty. Teams in the US Big Ten Conference, home to storied American football schools such as Ohio state and Michigan, started its schedule last weekend, several weeks late, with fewer fans.

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