Fears of a jet fuel shortage ahead of the peak summer travel season have eased as higher refinery production and increased exports from countries including Nigeria have helped rebalance the global aviation fuel market.
This is according to the International Energy Agency (IEA) report on Wednesday (June 17, 2026) which disclosed that higher output from refineries in the United States and Europe, alongside rising imports from key exporting nations, has helped rebalance the global jet fuel market after months of supply concerns linked to strong travel demand and geopolitical tensions.
According to the IEA, refinery production of jet fuel increased sharply during the spring months.
In March, U.S. refineries produced more than 2 million barrels per day (bpd) of jet fuel, while European refiners generated about 1.3 million bpd. Production levels continued to rise through April and May, helping to strengthen global supply.
What they are saying
The report noted that fears of supply shortfalls, which had intensified ahead of the busy summer travel period, have largely subsided due to these higher production levels and improved trade flows.
- A major factor behind the easing supply pressures has been the surge in U.S. jet fuel exports to Europe. Record production in the United States has allowed exporters to ship larger volumes across the Atlantic while maintaining domestic inventories above historical averages.
- Nigeria has also emerged as a significant supplier of jet fuel to Europe, highlighting the country’s growing role in international refined petroleum markets.
- Data cited by the IEA from commodity analytics firm Kpler showed that jet fuel imports from Nigeria into Europe averaged 127,000 bpd so far in June. This places Nigeria among the continent’s leading external suppliers, second only to the United States, which exported approximately 136,000 bpd during the same period.
Within Europe, refiners have also responded to strong demand and attractive margins by increasing production. Countries such as Italy, Norway and Denmark recorded stronger refinery runs, while the completion of maintenance activities at facilities in Poland, Belgium and Germany further boosted output.
More insight
The IEA noted that the increase in jet fuel production has not come at the expense of diesel output, a concern that had previously surfaced among market participants.
Instead, refiners have been able to raise production of both fuels by processing additional low-sulphur feedstocks through hydrocracking units. This has enabled them to maximize output while taking advantage of favourable market conditions.
Despite the improvement in supply, jet fuel remains relatively profitable for refiners. The IEA said prices continue to support strong production levels, although the premium of jet fuel over diesel has narrowed considerably and is now approaching levels seen before recent market disruptions.
The agency added that diesel refining margins remain elevated at close to $40 per barrel, yet jet fuel prices continue to justify a substantial share of refinery output.
What you should know
Nairametrics reported in May 2026 that Dangote Refinery emerged as the world’s largest exporter of jet fuel in April. This was disclosed in an S&P Global Energy report, which cited comments from Dangote Refinery Chief Executive Officer David Bird during an interview at the facility.
According to the report, jet fuel became a major driver of the refinery’s export growth as disruptions linked to tensions in the Middle East reshaped global fuel trade flows. The supply disruptions prompted buyers to seek alternative sources of aviation fuel, creating opportunities for new exporters to gain market share.
S&P Global Energy noted that the changing supply landscape boosted demand for Dangote Refinery’s jet fuel exports, helping position the facility as a key supplier to international markets at a time when traditional trade routes were facing uncertainty.
The latest IEA report appears to reinforce that trend, with Nigeria now ranked among Europe’s largest jet fuel suppliers. Imports from Nigeria averaged 127,000 barrels per day so far in June.
