North America gas weekly update: Production ramps up

Hello, production! It seems as if the bear has finally come out of hibernation, ironically enough. Daily production levels are near record highs, and if they continue as such, we could see a significant storage buffer against cold peak winter scenarios. Even with slightly colder weather outlooks, increased LNG feed gas flows, and higher heating demand, we’re still looking at a weekly storage injection, albeit small. Production increases are weighing down Henry Hub gas prices and more to come if it can remain higher.