US natural gas production hits 9-month high
Monday, September 12, 2022
U.S. natural gas production is trending at its highest level since December 2021, as steady increases in drilling, this year are boosting domestic supply, according to S&P Global Commodity Insights.
Domestic production has averaged over 96.6 Bcf/d so far in September as output nears a 9-month high. Production is up about 1 Bcf/d compared to August, which is quite a jump considering it only grew 1 Bcf/d from May to August.
Simultaneously, the U.S. rig count rests at 868, down slightly from 877 the week prior — the highest rig count since November 2019. Additionally, NYMEX futures have dipped to low-to-mid-$8 prices.
Learn more: S&P Global Commodity Insights > US natural gas production hits 9-month high as NYMEX futures rally falters
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