GAZB - Natural Gas Market Overview: Dry Gas Production Continues To Decline While The Weather Models Are Highly Unstable
This report covers the week ending January 17, 2020.
Total Demand
We estimate that the aggregate demand for American natural gas (consumption + exports) totaled around 805 bcf for the week ending January 17 (down 2.3% w-o-w (week over week) and down 3.3% y-o-y (year over year)). The deviation from the norm turned negative - for the first time since January 11, 2019 (see the chart below).
This week, the weather conditions have warmed up slightly across the Lower-48 states. We estimate that the number of nationwide heating degree-days (HDDs) dropped by 1.5% w-o-w (from