European airlines and oil refiners are growing more confident the continent can avoid outright jet fuel shortages this summer after plants maximised output, boosted imports and governments tapped strategic reserves.
While refiners still believe the peak travel season will be a “stress test” for the sector, given the loss of supplies from the Middle East, multiple oil companies said a warning of shortages within weeks from the International Energy Agency seemed unlikely to come to pass.
Spanish energy group Repsol said it had increased jet fuel production for the coming months by 20 to 25 per cent compared with the same period last year, by reconfiguring its refineries to produce higher kerosene yields from each barrel of crude processed.