Kpler sees refined products demand down 2.4 mbd in 2026, uneven 2027 recovery

[Kpler] Global refined products demand is forecast to fall 2.4 million barrels per day (mbd) in 2026 and then rebound by 2.5 mbd in 2027, according to Kpler, with structural losses in China and Europe. Kpler said feedstock shortages, high pump prices and airspace closures are driving the 2026 slump, while EVs, LNG trucks and gas displacing fuel oil will keep the 2027 rebound uneven.