HOUSTON (ICIS)–US oil production will likely exceed the forecast that Enterprise Products made in 2023, and that should lead to more natural gas liquids (NGLs) that petrochemical producers can use as feedstock, the midstream company said on Thursday.
The Permian basin will account for the most of that new production forecasted by Enterprise, said Tony Chovanec, executive vice president, fundamentals and commodity risk assessment. He made his comments during an earnings conference call.
That forecast published in 2023 called for US oil production to grow by a total of 1.8 million bbl/day in the three-year span ending in 2025.
Published by: www.icis.com
Al Greenwood
01-Feb-2024
