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EIA sees 2016 US natgas production, consumption at record highs

[WASHINGTON] The US Energy Information Administration on Tuesday said dry natural gas production in 2016 was expected to reach 74.80 billion cubic feet per day, up a shade from the 74.76 bcfd it forecast last month.

That forecast production would top 2015's record high of 74.24 bcfd and would be the sixth consecutive annual record high for US gas production, according to EIA's Short Term Energy Outlook (STEO) in May.

EIA also forecast US gas consumption would edge up to 76.48 bcfd in 2016 versus the 76.24 bcfd it forecast in April.

That would top the 2015 record high for gas demand of 75.27 bcfd and would be the seventh annual record high in a row.

REUTERS