EIA: US Propane/Propylene Stocks Down 1.4M Bbl in Week
CANYON LAKE, Texas (DTN) -- The Energy Information Administration today
reported U.S. inventories of propane/propylene dropped a more than expected 1.4
million bbl in the week ended Jan. 17 to 86.5 million bbl, with an 800,000 bbl
pull on Midwest PADD 2 stocks accounting for most of the decline.
At 86.5 million bbl on Jan. 17 domestic propane/propylene inventories are up
22.7 million bbl or 35.6% from the same time in 2019 while 27% above the
five-year average for the same week in the year.
EIA data shows Midwest PADD 2 propane/propylene stocks dropped 800,000 bbl
in the week at 18.5 million bbl and Gulf Coast PADD 3 supplies edged 200,000
bbl lower at 58.2 million bbl while. Compared to the same time in 2019, Midwest
PADD 2 propane/propylene supplies are down 100,000 bbl or less than 1% while
Gulf Coast PADD 3 stocks are up 22.2 million bbl or 60.7%.
East Coast PADD 1 propane/propylene stocks fell 300,000 bbl in the
week-ended Jan. 17 at 6.1 million bbl, which is down 400,000 bbl or 6.2% from
the year-ago level.
U.S. propane/propylene exports were at 1.223 million bpd in the week, down
from 1.235 million bpd in the week prior. Domestic exports of propane/propylene
in the four weeks ended Jan. 17 averaged 1.180 million bpd compared with
973,000 bpd in the same period a year earlier.
EIA data showed U.S. propane/propylene imports averaged 154,000 bpd during
the week profiled, unchanged from the week prior. Propane imports in the last
four weeks averaged 152,000 bpd versus 195,000 bpd in the same period a year
Propane/propylene inventories in PADDs IV and V, which include the Rocky
Mountain and West Coast regions, were down 100,000 bbl from the week prior at
3.1 million bbl. Propane/propylene stocks at 3.1 million bbl in PADD IV and V
are up 1 million bbl or 47.6% from the year prior.
Agency data showed implied demand for propane/propylene at 1.492 million
bpd, almost flat versus 1.490 million bpd in the week prior. Implied demand in
the four weeks ended Jan. 17 was at 1.445 million bpd compared with 1.607
million bpd in the same period a year earlier.
EIA reported refiner and blender net production of propane/propylene at
2.357 million bpd, down from a record-high 2.435 million bpd in the week prior.
Versus the same week last year, refiner and blender propane/propylene
production was up 333,000 bpd or 16.4%.
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