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With Strong Demand and Choppy Supply, Outlook Brightens for NGL Prices, Raymond James Says

With Strong Demand and Choppy Supply, Outlook Brightens for NGL Prices, Raymond James Says Natural gas liquids (NGLs), a byproduct of oil and gas production, could benefit from global demand and supply disruptions in 2021, paving a path for rising prices as the year wears on, analysts at Raymond James & Associates Inc. said in a new forecast. “We still think U.S. NGLs have a pretty bullish set-up, similar to U.S. natural gas,” the Raymond James team said. “We continue to believe the relative U.S. NGL supply headwinds and demand strength in 2021-plus are under-appreciated by the market.” The analysts forecasted U.S. composite NGL average prices for 2021 of $0.67/gallon (about $28/bbl) and $0.64 for 2022 ($27/bbl). They noted that this reflects nearly 10% upside to the recent U.S. composite barrel NGL strip price average for 2021-22 of just over $0.60/gallon ($25/bbl).

Gas prices in Idaho nudge up 3 cents a gallon

Exclusive: Indian refiners deepen cuts to Saudi oil purchases in May

Exclusive: Indian refiners deepen cuts to Saudi oil purchases in May - sources Reuters 1 hour ago By Nidhi Verma © Reuters/Punit Paranjpe FILE PHOTO: A worker rides a bicycle at the Bharat Petroleum Corporation refinery in Mumbai By Nidhi Verma NEW DELHI (Reuters) - Indian state refiners will buy 36% less oil from Saudi Arabia in May than normal, three sources said, in a sign of escalating tensions with Riyadh even after the Kingdom supported the idea of boosting output from OPEC and allied producers last week. © Reuters/Adnan Abidi FILE PHOTO: India s Oil Minister Pradhan speaks on phone during an interview with Reuters in New Delhi

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