The EIA reported that total U.S. propane/propylene inventories increased by 1.3 MMbbl for the week ended August 4, which was below the average industry expectations for a 1.9 MMbbl gain but in line with the 1.2 MMbbl average build for the week. U.S. propane production soared by 187 Mbbl/d to 2,687 Mbbl/d which is the highest on record. Most of the production growth took place in PADD 3, where output increased by 168 Mbbl/d to 1,647 Mbbl/d, also a record high for the region. After dropping last week to 1,277 Mbbl/d, exports rebounded by 521 Mbbl/d to 1,798 Mbbl/d, well above the 4-week average of 1,570 Mbbl/d.
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Greatest of All-Time! - Massive Draw for Propane Stocks as Production Plunges and Exports Soar.
Record-high draw for propane stocks as production output drops sharply and exports climb.
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U.S. Propane Inventories Draw In-Line with Industry Expectations as Exports Remain Robust
U.S. propane inventories draw well below the average weekly draw of 3.1 MMbbl while exports remain strong at 1.9 MMbbl/d.
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U.S. Weekly Propane Inventories Increase 1 MMbbl Over Industry Expectations and the Average Build for the Week
U.S. propane inventories increase by 2.9 MMbbl, highest for the week over the last 10 years with PADD 1 having the largest weekly build on record.
