EIA Forecasts Larger Decline in U.S. Natural Gas Output for 2024

The U.S. Energy Information Administration on Tuesday forecast a larger decline in natural gas output this year compared to earlier estimates, citing record low prices earlier in 2024 that forced producers to curtail gas production.

U.S. natural gas output will average around 103.3 billion cubic feet per day (bcfd) this year, the EIA said in its August edition of the short-term energy outlook report. That compares with 103.8 bcfd produced last year, and is a slight downgrade from a forecast of 103.5 bcfd in the July edition of the report.