OREANDA-NEWS. The US Energy Information Administration (EIA) lowered its fourth quarter NGL production forecast to 3.35mn b/d from 3.42mn b/d in its latest Short Term Energy Outlook.

The agency also revised third quarter NGL production lower, to 3.31mn b/d from 3.33mn b/d.

Looking ahead, the EIA now forecasts 2016 production to average 3.55mn b/d, down from the previous estimate of 3.56mn b/d.

Potential declines in production from gas processing come amid ongoing weakness in both gas and NGL prices. Of the 3.35mn b/d in fourth quarter production, the EIA estimates ethane will account for 1.14mn b/d, propane 1.13mn b/d, butane 630,000 b/d, and natural gasoline at 440,000 b/d.