The U.S. Energy Information Administration (EIA) on Aug. 6 forecast a larger decline in natural gas output this year compared with earlier estimates, citing record-low prices earlier in 2024 that forced producers to curtail gas production.

U.S. natural gas output will average around 103.3 Bcf/d this year, the EIA said in its August edition of the short-term energy outlook report. That compares with 103.8 Bcf/d produced last year and is a slight downgrade from a forecast of 103.5 Bcf/d in the July edition of the report.

Gas consumption is now expected to average 89.8 Bcf/d this year, up from the prior forecast of 89.4 Bcf/d.

For next year, the agency is forecasting production of 104.6 Bcf/d, down from its prior forecast of 105.2 Bcf/d. Consumption forecast for next year was unchanged at around 89.2 Bcf/d.