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Purvin & Gertz: World LPG supply headed for surplus

03/12/2007
World LPG prices, boosted by high oil and natural gas prices, have pushed up supply but depressed demand in developing markets, according to Craig Whitley of Houston-based consultancy Purvin & Gertz Inc. in opening remarks Mar. 6 to the firm’s 20th Annual International LPG Seminar in Houston.Especially in China and India have high prices halted LPG demand that had seen several years of steady growth as those countries’ economies have expanded.On the other hand, higher oil production rates have pushed up LPG production, especially in the Middle East. The region, led by Saudi Arabia, historically leads the world in LPG produced for export. Adding to the growing supply is a s...
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