US propane supplies increase as consumption weakens

22 May 2013 17:49  [Source: ICIS news]

HOUSTON (ICIS)--US propane supplies rose by 5.2% as a result of weaker consumption for the week ending 17 May, the US Energy Information Administration (EIA) said on Wednesday.

Supplies increased to 44m bbls from 41.8m bbls the prior week. Consumption fell by 24% to 869,000 bbls/day for the same period, down from 1.146m bbls/day.

Exports increased by 48% week on week, rising to 213,000 bbls/day, while imports fell to 72,000 bbls/day.

Warmer temperatures have decreased domestic demand for propane, so producers have looked to exports to make up the difference.

Enterprise Products Partners has recently expanded its export facility, and Targa Resources plans to have their facility complete later this year.

By: Bobbie Clark
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