US Natgas Output Seen Up in 2017, but Still Below 2015 Record

Reuters

July 11 (Reuters) - U.S. dry natural gas production in 2017 was forecast to rise to 73.30 billion cubic feet per day (bcfd) from 72.29 bcfd in 2016, according to the Energy Information Administration's (EIA) Short Term Energy Outlook (STEO) on Tuesday.

The latest July output projection was unchanged from EIA's forecast in June but falls short of the record high 74.14 bcfd produced on average in 2015.

EIA also projected U.S. gas consumption would fall to 72.86 bcfd in 2017 from a record 75.11 bcfd in 2016. The 2016 high was the seventh annual demand record in a row.

That 2017 consumption projection in the July STEO report was down from EIA's 73.41-bcfd forecast for the year in its June report.

(Reporting by Scott DiSavino; Editing by Marguerita Choy)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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