South Korea foresees an increase in oil products demand by 2 % in 2016, after a rise by 2.5 % on year in 2015, the country’s state-run think tank, the Korea Energy Economics Institute (KEEI) announced this week, published by Platts.

The oil demand will be driven by jet fuel consumption rise by 5.5 % on year, according to the KEEI’s published forecast.

“The rise in jet fuel demand is attributable to increase in air [travel] by local and Chinese tourists,” the KEEI explained.

In addition, Platts quoted preliminary data from the South Korea’s Ministry of Trade, Industry, and Energy, which indicate a fall in oil imports by 3.7 % on year in November 2015, marking the first decline in more than 12 months.