U.S. propane and propylene inventory fell by 2.2 million bbl to 93.7 million bbl in the week ending Friday, according to the Energy Information Administration petroleum inventory report released Wednesday. Year to year, stocks are down 2.3%. The decline was greater than the average 1.5 million bbl drawdown estimated in an OPIS poll Tuesday, but within the range of expectations of withdrawals of 1 million bbl to 2.3 million bbl. According to the EIA report, exports grew by 101,000 b/d to 1.812 million b/d last week. The four-week average stands at 1.781 million b/d. Year to year, exports are up 21.6%. Propane and propylene product supplied, an indicator of implied demand, grew 31,000 b/d to 1.231 million b/d last week. Year to year, it is down 28.7%. Refiner and blender net production decreased by 24,000 b/d to 2.608 million b/d last week. The four-week average stands at 2.63 million b/d. Year to year, production is down 0.68%. Imports fell by 9,000 b/d to 121,000 b/d. Year to year, they are down 30.5%. Combined propane and propylene stocks in the Gulf Coast region (PADD 3) slipped by 1,800 bbl to 50.1 million bbl. Year to year, they are up 0.4%.
Midwest (PADD 2) stocks declined 200,000 bbl to 28.5 million bbl. Year to year, they are up 10.5%.
East Coast (PADD 1) stocks increased 200,000 bbl to 8.9 million bbl. Year to year, they are up 21.9%.
PADDs 4 and 5 inventories dipped 400,000 bbl to 6.2 million bbl. Year to year, they are up 40.9%.
