The EIA reported that total U.S. propane/propylene inventories fell by 2.2 MMbbl for the week ended December 15, which was above average industry expectations for a draw of 1.5 MMbbl but below the 2.7 MMbbl average decline for the week. Total U.S. propane stocks now stand at 93.7 MMbbl, which is 14.5 MMbbl, or 18.3%, above the 5-year average.
The EIA issued an error notice for PADD 2 propane stocks for weeks ended November 10-December 15, 2023. They indicated that PADD 2 propane/propylene stocks are overstated in the November 15-December 20, 2023, publications of the Weekly Petroleum Status Report (WPSR). The stock error also affects calculated quantities of stock change and product supplied for propane/propylene, total petroleum, and other oils. The EIA does not currently plan to correct the weekly data but will release the accurate monthly data for November and December 2023 as part of the Petroleum Supply Monthly (PSM) at the end of January and February 2024, respectively.
