US Propane—MIDYEAR 2009: Global recession, OPEC discipline combine to boost propane prices

Two factors mainly influenced propane markets and pricing during second and third quarters 2009.First, the economic recession continued to limit ethylene production and total feedstock demand during second and third quarters 2009. Second, key Organization of Petroleum Exporting Countries' producers maintained reasonably strict adherence to their production quotas in accord with agreements reached in September and December 2008.Propane's use as a space-heating fuel in the residential and commercial markets reaches its seasonal peak each year during fourth and first quarters. Residential-commercial propane demand begins to increase during September-October and usually peaks in December-Janu...

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