EIA Predicts Henry Hub to Avg $3.40 This Winter – Nov. STEO

Once a month, U.S. Energy Information Administration (EIA) analysts issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months. Last month, the report predicted new all-time highs for natural gas production in 2023 (see EIA Boosts Prediction for Record-High NatGas Prod. 2023 – Oct. STEO). The latest monthly report, issued yesterday, revises those record-high predictions down just a smidge --- essentially the same as last month. EIA projects that dry gas production will end up at 103.68 billion cubic feet per day (Bcf/d) in 2023 (down from 103.72) and rise to 105.12 Bcf/d in 2024 (down from 105.13). The current record high is 99.60 Bcf/d, set in 2022. We're going to blow by that this year and next.

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