Forecast: Natural Gas Liquids Production in the US

US Natural Gas Liquids (NGL) production has seen significant growth, increasing from 2.61 million barrels per day in 2013 to 6.26 million barrels per day in 2023. Notably, the year-on-year growth reached 6.37% in 2023, reflecting robust expansion despite some fluctuations. Between 2019 and 2023, the Compound Annual Growth Rate (CAGR) stood at 7.45%, hinting at consistent production increases over this period.

Forecasts indicate continued growth, with production expected to reach 8.1 million barrels per day by 2028, representing a 22.09% increase from 2023 levels. The forecasted 5-year CAGR from 2024 to 2028 is 4.07%, suggesting a more tempered, yet steady, growth rate compared to the previous five years.

Future trends to watch for:

• Impact of regulatory changes and environmental policies on production capacity.
• Technological advancements in extraction and processing, potentially increasing efficiency and output.
• Market demand shifts influenced by global energy transitions towards renewable energy sources.
• Geopolitical factors affecting supply chains and export opportunities for US NGL producers.