Increases in US propane exports help balance markets
March 12, 2018 By Brian Richesson
A report from the U.S. Energy Information Administration (EIA) examines U.S. propane’s relationship with world propane prices and crude oil prices.
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A report from the U.S. Energy Information Administration (EIA) examines U.S. propane’s relationship with world propane prices and crude oil prices.
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There have been two primary factors behind the late-winter weakness in propane prices: rising propane production and lower propane exports.
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The increase in U.S. propane exports and export capacity has captured the industry’s attention for the last several years.
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It is difficult to believe, but domestic propane demand is running slightly below last year’s levels for the same time of year.
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From soaring U.S. propane exports during part of the heating season to extreme weather later in the year, 2017 in the propane industry didn’t lack for action.
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According to the U.S. Energy Information Administration, propane exports reached a record high of 913,000 barrels per day in the first half of 2017.
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It’s important for propane retailers to know the latest trends that could impact their access to propane and their ability to serve the domestic market.
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U.S. crude and petroleum exports increased in recent years, and propane exports have accelerated significantly, the Energy Information Administration reports.
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Propane Resources’ Jeff Thompson provides a snapshot of the propane inventory picture going into the summer-build season.
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The Propane Education & Research Council has selected industry veteran Thomas “Tucker” Perkins as its next president and CEO, succeeding Roy Willis.
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