Record decline in kerosene consumption
Less aviation kerosene was bunkered (for international air traffic) last year already due to the halted growth of Schiphol Airport. Compared to January 2020, there was a 23-percent decline in the consumption of kerosene in March. The total volume of kerosene bunkered ended at 213 million kg in March, the lowest level in two decades.
|Jaar||Maand||Petrol (million kg)||Car diesel (million kg)||Kerosene (million kg)|
Refineries make adjustments in outputThe oil refineries have adjusted to the drop in demand by scaling back the production of oil products by 12 percent. Stocks of unsold petroleum products have increased. The export of petroleum products did increase in March, by 12 percent relative to January.
Petrol production down by over 13 percent
Petrol sales has declined by over 20 percent relative to March 2019, to a total of 287 million kg. Outside of the Netherlands, demand for petrol has dropped as well. For example, exports have declined by 7 percent to 2,300 million kg while production fell by over 13 percent to 1,800 million kg.
The Netherlands has the world’s largest storage space for petrol and is a major player in the international petrol market. Stocks of petrol have declined sharply relative to the previous year. Lower demand results in lower output, as stocks are being sold first.
|Output (y-o-y % change)||Stock (y-o-y % change)||Sale (y-o-y % change)||Exports (y-o-y % change)|