Today’s Fundamentals
Daily US natural gas production is estimated to be 90.7 Bcf/d this morning. Today’s estimated production is -1.01 Bcf/d to yesterday, and -1.54 Bcf/d to the 7D average. The drop was spread across multiple regions with the SC and Northeast leading the pack. We typically see a late-cycle production gains that should take levels back above 91.5 Bcf/d.
Natural gas consumption is modelled to be 66.1 Bcf today, -2.51 Bcf/d to yesterday, and -2.61 Bcf/d to the 7D average. US power burns are expected to be 29.2 Bcf today, and US ResComm usage is expected to be 11.8 Bcf.
Net LNG deliveries are expected to be 10.1 Bcf today. Freeport once again showed lower feedgas volumes in today’s data. The facility has been experiencing this pattern of lower levels every few days since it got hit with Hurricane Nicholas.
Mexican exports are expected to be 5.9 Bcf today, and net Canadian imports are expected to be 5.2 Bcf today. Mexican exports start to fall in October with cooler temps reducing the power generation.
The storage outlook for the upcoming report is +89 Bcf today.
This email, any information contained herein and any files transmitted with it (collectively, the Material) are the sole property of OTC Global Holdings LP and its affiliates (OTCGH); are confidential, may be legally privileged and are intended solely for the use of the individual or entity to whom they are addressed. Unauthorized disclosure, copying or distribution of the Material, is strictly prohibited and the recipient shall not redistribute the Material in any form to a third party. Please notify the sender immediately by email if you have received this email by mistake, delete this email from your system and destroy any hard copies. OTCGH waives no privilege or confidentiality due to any mistaken transmission of this email.
ION-Energy-Daily-Report-Oct-20-2021.pdf