Commodity Market Report
North America gas short-term outlook: US gas production growth slowing down
Report summary
By default, US gas production growth needs to slow down to avoid storage congestion – not only this injection season but next as well. Although still reaching new highs, growth in both the Northeast and Haynesville has slowed down. Permian growth that appeared to ramp up significantly in early July has also normalized closer to our forecast. Although the Permian should continue its growth, led by high oil prices and expanded takeaway capacity, overall US gas production is slated to flatten out. Find out more about where North American gas markets are headed: • Will higher domestic demand help balance markets? • Will new US LNG exports help reduce oversupplied markets in 2024? • Are higher Henry Hub gas prices warranted?
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