U.S. natural gas production and demand will rise to record highs in 2023, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO).

EIA projected dry gas production will rise to 103.72 billion cubic feet per day (bcfd) in 2023 and 105.13 bcfd in 2024 from a record 99.60 bcfd in 2022.

The agency also projected domestic gas consumption would rise from a record 88.46 bcfd in 2022 to 89.17 bcfd in 2023 before sliding to 88.38 bcfd in 2024.
Source: Reuters (Reporting by Scott DiSavino, Editing by Chris Reese)