UNG - February 2020: Natural Gas Supply-Demand Balance Overview And Forecast
The U.S. Energy Information Administration has recently released their natural gas monthly statistics for November 2019. In this article, we will briefly review their consumption and exports figures, then look at our estimates for December and January, and conclude with our latest forecast for February, March and April.
November Overview
Aggregate demand (national consumption + exports) for American natural gas increased by 3.00% y-o-y in November 2019 to 104.6 bcf/d. Despite the fact that there were 2.0% fewer total degree days (TDDs) than there were last year, natural gas consumption edged down by just 0.40%