GAZB - November 2019: Natural Gas Supply-Demand Balance Overview And Forecast
The U.S. Energy Information Administration has recently released their natural gas monthly statistics for August 2019. In this article, we will briefly review their consumption and exports figures, then look at our estimates for September and October, and conclude with our latest forecast for November, December, and January.
August Overview
Aggregate demand (national consumption + exports) for American natural gas increased by 7.53% y-o-y in August 2019 to 90.80 bcf/d. Despite relatively normal weather, consumption rose by 5.40% y-o-y to 78.41 bcf/d - primarily due to very bullish non-degree-day factors (such as coal-to-gas-switching). Exports surged