When it comes to understanding propane markets, you can think about it in thirds. It just so happens that about one-third of total hydrocarbon liquids (crude + natural gas liquids) produced in the U.S. are NGLs. About one-third of those NGLs (ethane, propane, butanes and pentanes+) are propane. Around one-third of that propane is consumed domestically while the rest is exported (green area in pie chart below).

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