US Natural Gas Production is Plummeting

From Goehring & Rozencwajg 

Natural gas production is plummeting. Between December 2023 and May 2024, U.S. dry gas supply has contracted by a notable 5 billion cubic feet per day—a nearly 5% reduction. On a year-over-year basis, the decline stands at 2.2 bcf/d. The drawdown is the sharpest since the shale revolution began, excluding the 2020 COVID year. Both shale and conventional production have taken a hit, with shale output diminishing by 2.1 bcf/d and conventional sources plummeting by 2.8 bcf/d over the last five months.