Dry natural gas production in the US is forecast to average 81.0 billion cubic feet per day Bcf/d in 2018, up by 7.4 Bcf/d from 2017 and establishing a new record high, according to EIA’s short-term energy outlook, which foresees natural gas production will continue to rise in 2019 to an average of 84.7 Bcf/d.
- EIA estimates dry natural gas production in the United States was 82.2 Bcf/d in August, up 0.7 Bcf/d from July.
- EIA forecasts that US natural gas inventories will total 3.3 trillion cubic feet (Tcf) at the end of October.
This level would be 13% lower than the 2017 end-of-October level and 14% below the five-year (2013–17) average for the end of October, while also marking the lowest level for that time of year since 2005.
- Furthermore, EIA expects Henry Hub natural gas spot prices to average $2.99/million British thermal units (MMBtu) in 2018 and $3.12/MMBtu in 2019.
NYMEX futures and options contract values for December 2018 delivery that traded during the five-day period ending September 6, 2018, suggest a range of $2.31/MMBtu to $3.77/MMBtu encompasses the market expectation for December Henry Hub natural gas prices at the 95% confidence level.
