U.S. natural gas production and demand will rise to record highs in 2024, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday.

EIA projected dry gas production will rise to 104.37 billion cubic feet per day (bcfd) in 2024 and 106.46 bcfd in 2025 from a record 103.75 bcfd in 2023.

The agency also projected domestic gas consumption would rise from a record 88.96 bcfd in 2023 to 90.64 bcfd in 2024 before easing to 89.55 bcfd in 2025.
Source: Reuters (Reporting by Scott DiSavino)