U.S. Natural Gas Output & Demand To Fall Due To Coronavirus Lockdowns

• U.S natural gas production and demand will drop in 2020 and 2021 from record highs last year as coronavirus lockdowns cut economic activity and energy prices, the U.S. Energy Information Administration (EIA) said on Tuesday.
• EIA’s Short-Term Energy Outlook (STEO) projected dry gas production will drop to 88.65 billion cubic feet per day (bcfd) in 2020, and 84.02 bcfd in 2021 from the all-time high of 92.21 bcfd in 2019.
• It also projected gas consumption would fall to 82.42 bcfd in 2020, and 78.71 bcfd in 2021, from a record 84.97 bcfd in 2019.

(Source: Reuters)