The Energy Information Administration (EIA) reported U.S. propane
inventories down 1.021 million barrels for the week ending
November 1. The draw put inventories at 100.509 million barrels,
2.061 million barrels, 2.1% above last year and 10.7% higher than the
five-year average for week 44 of the year.
A survey ahead of the report showed an average expectation for a
million-barrel draw. Over the last five years inventory had averaged
an 586,000-barrel draw during week 44. Ready-for-sale propane
stocks were down 945,000 barrels to 67.455 million barrels. That
was 67.1% of the total propane/propylene inventory.
U.S. propane production was down 11,000 bpd to 2.743 million bpd.
Propane imports were up 10,000 bpd to 110,000 bpd. Combined
supply was down 1,000 bpd. U.S. domestic propane demand was
down 600,000 bpd to 710,000 bpd while propane exports increased
711,000 bpd to 2.289 million bpd. Combined demand was up 111,000 bpd. Overall it was a 112,000bpd negative impact on U.S. propane supply resulting in an inventory draw of 146,000 bpd compared to a draw of 34,000 bpd the previous week.
