Upward revisions for 2015 and 2016 US gas production forecasts
In the natural gas component of its monthly report, the EIA made upward revisions to 2015 and 2016 production forecasts of 1 billion cubic feet per day (bcf/d) to 78.4bcf/d and 80.0bcf/d respectively, based on increases …
In the natural gas component of its monthly report, the EIA made upward revisions to 2015 and 2016 production forecasts of 1 billion cubic feet per day (bcf/d) to 78.4bcf/d and 80.0bcf/d respectively, based on increases in rig efficiency and strong 2014 production data.
Natural gas production increased 6.1% y/y to 74.7bcf/d in 2014, the strongest growth since 2011 according to EIA's Natural Gas Monthly.
The EIA projects that US total natural gas consumption will average 75.7bcf/d and 76.2bcf/din 2015 and 2016, respectively, largely driven by demand in the industrial and electric power sectors.
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