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EIA cuts 2016 US natgas production outlook to below 2015 record
[WASHINGTON] The US Energy Information Administration on Thursday said dry natural gas production in 2016 would fall to 72.49 billion cubic feet per day, down from the 74.06 bcfd it forecast last month.
That would fall short of the record high of 74.14 bcfd produced on average in 2015, according to the EIA's Short Term Energy Outlook (STEO) in October.
The EIA also forecast US gas consumption would slip to 75.97 bcfd in 2016 versus the 76.38 bcfd it forecast in September.
That would still top the 2015 record high for gas demand of 74.81 bcfd and would be the seventh annual record in a row.