Commodities Buzz: US Natural Gas Production Witnessing Impressive Surge

1 Apr 2022 , 12:28 PM

The US Energy Information Administration (EIA) noted in a latest monthly update that in January 2022, dry natural gas production in the US increased year over year for the month for the 10th consecutive month. The preliminary level for dry natural gas production in January 2022 was 2,943 billion cubic feet (Bcf), or 94.9 billion cubic feet per day (Bcf/d). This level was 2.1 Bcf/d (2.3%) higher than January 2021 (92.8 Bcf/d) and the second-highest level for the month since 1973. Estimated natural gas consumption in January 2022 was 3,592 Bcf, or 115.9 Bcf/d. This level was 9.7 Bcf/d (9.1%) higher than in January 2021 (106.2 Bcf/d). The year-over-year average daily rate of consumption of dry natural gas in January 2022 increased in all four consuming sectors i.e. residential, commercial, industrial and electric power.

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