As it turns out, a trade war with your biggest customer isn’t the death knell some made it out to be. U.S. exports of natural gas liquids (NGLs) hit an all-time high in April, defying concerns that the escalating trade war with China would choke off demand. Ship tracking data from Kpler and Vortexa pegged NGL exports at 2.
9 million barrels per day (bpd)—a record level—even as exports to China tumbled 35% month-over-month. NGLs like ethane, propane, and butane—key inputs for everything from plastics to home heating—have…U.S. Nat Gas Liquids Exports Hit Record—Even With China Playing Hardball
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