The US Energy Information Administration Tuesday raised by 1.17 Bcf/d to 87.35 Bcf/d its second-quarter natural gas marketed production estimate for the US. EIA, in its June Short-Term Energy Outlook, also raised its Q3 marketed production forecast by 1.09 Bcf/d to 88.22 Bcf/d. The agency raised its natural gas consumption estimates by 0.83 Bcf/d to 69.95 Bcf/d for Q2, and by 0.36 Bcf/d to 69.54 Bcf/d for Q3.
EIA lowered its forecast for Q2 Henry Hub natural gas spot prices 1 cent to $2.84/MMBtu. The Q3 forecast also dropped 1 cent from the previous month to $3.01/MMBtu.
The agency projected Henry Hub natural gas prices would average $2.99/MMBtu for the full year and $3.08/MMBtu in 2019.
