The rebound in US crude output has grabbed all the headlines. But output remains 370,000 b/d below the record 9.627mn b/d hit in April 2015. Not so NGLs, for which production continues to set new records.
Provisional weekly data shows that US crude output for April was 9.261mn b/d, up 185,000 b/d on March, 314,000 b/d on a year ago and almost 700,000 b/d on September’s 30-month low of 8.567mn b/d. NGLs meanwhile are up 119,000 b/d on a year ago and 309,000 b/d on April 2015. (CONTINUED - 676 WORDS)
