Energy Efficiency

EIA Examines Impact of Lower Oil Prices On Drilling

By Chemical Processing Staff

Feb 04, 2015

The U.S. Energy Information Administration’s (EIA) new “Today in Energy” brief looks at the impact of lower oil prices on U.S. drilling activity. According to the EIA, between 2014 and 2018, U.S. petrochemical capacity expansion projects are projected to increase domestic demand for ethane by nearly 600,000 barrels per day (bbl/d) and propane by nearly 200,000 bbl/d. This growing demand is in response to growing domestic hydrocarbon gas liquids (HGL) supply and favorable petrochemical feedstock prices in the United States relative to the international market, cites the agency.

Read the entire article here.