Enterprise Products Partners (EPD) Corporate presentation summary

Global supply disruption and market impact

• Strait of Hormuz closure removed 12–15 million BPD from global markets, causing a monthly deficit of nearly half a billion barrels and fracturing supply chains, which drove record demand for U.S. energy exports.

• Global hydrocarbon inventories dropped by almost 800 million barrels in 81 days, with a 9.1 MMBPD deficit after accounting for surplus, demand destruction, and alternative supplies.

Price and margin dynamics

• Oil prices surged, with Brent rising to $94 and WTI to $88 for 2026, far above previous consensus and forward curves.

• U.S. ethane-to-ethylene cracking margins jumped from 7 to 25 cents per pound, and ethylene-to-polyethylene spreads increased to 35 cents per pound, while Asian margins turned negative.

U.S. export response and capacity

• U.S. liquid hydrocarbon exports increased by 2.8 MMBPD as global exports (excluding U.S.) fell by 14.7 MMBPD, with U.S. exports reaching near maximum capacity and more capacity coming online.

• Enterprise's liquid hydrocarbon exports rose by 33 MMB per month, maximizing operations to meet global demand.