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Virus cut China's international air traffic by 70% -IEA

·1 min read

LONDON, Feb 13 (Reuters) - The early stages of the coronavirus outbreak crisis led to a 70% fall in international air traffic in China while domestic air travel fell by 50%, the International Energy Agency (IEA) said.

It cut its first-quarter Chinese jet fuel demand forecast by 14% or 125,000 barrels per day (bpd) and its second-quarter forecast by 15%, or 140,000 bpd.

It lowered its overall Asian jet fuel demand forecast by 5% for the first quarter and by 8% for the second versus its previous forecast last month.

It cut its first-quarter Chinese diesel demand forecast by 395,000 bpd, or 12%, and its second-quarter forecast by 5% or 200,000 bpd.

The IEA said it had lowered its Chinese gasoline demand forecast for this quarter by 13% or 420,000 bpd but said it expects demand could receive some support next quarter from people avoiding public transport. (Reporting by Ahmad Ghaddar; editing by Jason Neely)