EIA: US Propane/Propylene Exports, Production Higher on Wk
5/25 10:31 AM
EIA: US Propane/Propylene Exports, Production Higher on Wk OAKHURST, N.J. (DTN) --- The Energy Information Administration reported a 4% increase in propane and propylene inventories through May 20 on a higher rate of production and a falloff in demand while exports climbed to a better than one-year high. Data show propane/propylene exports continued higher last week, up 328,000 bpd to 1.641 million bpd, the highest level since mid-April 2021 and 17% higher than the same week in 2021. Four-week average exports totaled 1.339 million bpd versus 1.286 million bpd during the same four weeks in 2021. Propane and propylene supplied to the U.S. market plunged 40.3% to 633,000 bpd through May 20, 40.2% lower than the same time a year ago. Data show four-week average demand down 15.7% from the corresponding four weeks last year while cumulative demand thus far in 2022 is 2.6% more than a year ago, averaging 1.420 million bpd. At 2.452 million bpd, total propane/propylene production rose 123,000 bpd to a four-week high last week and was 121,000 bpd above the corresponding week a year ago. Four-week average output at 2.367 million bpd was up 47,000 bpd from the comparable four weeks in 2021. EIA data show output at the Gulf Coast PADD 3 increased 65,000 bpd to 1.456 million bpd through May 20, the highest production rate since the last week of February, while Midwest PADD 2 output rose 41,000 bpd to 519,000 bpd, the highest level since the first week of October 2021. Propane and propylene inventory in the United States rose for a 10th straight week, up 1.816 million bbl to 46.333 million bbl, a 15-week high, leaving stocks at a 5% surplus versus the same time last year. East Coast PADD 1 stocks fell 274,000 bbl to 3.335 million bbl through May 20, 10.8% below a year ago while Midwest inventory held higher, up 1.115 million bbl to 10.984 million bbl, a 13-week high and 4.3% below a year ago. Gulf Coast inventory rose 948,000 bbl to 29.103 million bbl through May 20, 13.2% more than the same week last year. In the Rockies and West Coast in PADD 4 and 5, propane and propylene inventory moved up slightly to a 12-week high 2.911 million bbl, down 12.1% from a year earlier. (c) Copyright 2022 DTN, LLC. All rights reserved.
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