Daily natural gas production looks to be all over the place the last few day. To end the month of July, nomination data suggested production hitting an all time record high of 98.8 Bcf/d but today we see levels back to down to 95.8 Bcf/d. We typically see nomination data at the beginning of each month get revised higher as the week proceeds; hence we are expecting today’s levels to be restated higher. We will keep an eye on production levels the next few days to see where it settles.
Today’s Fundamentals
Daily US natural gas production is estimated to be 95.8 Bcf/d this morning. Today’s estimated production is -2.72 Bcf/d to yesterday, and -2.11 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 82.4 Bcf today, +0.44 Bcf/d to yesterday, and +0.37 Bcf/d to the 7D average. US power burns are expected to be 41.4 Bcf today, and US ResComm usage is expected to be 8.2 Bcf.
Net LNG deliveries are expected to be 11.2 Bcf today.
Mexican exports are expected to be 5.7 Bcf today, and net Canadian imports are expected to be 5.8 Bcf today.
The storage outlook for the upcoming report is +31 Bcf today.
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NatGas-Daily-Report-Aug-1-2022.pdf