Demand and production of U.S. natural gas is expected to fall in 2020 and 2021 as economic activity and energy prices take a hit due to the novel coronavirus COVID-19, according to Reuters.
The U.S. Energy Information Administration (EIA) has projected that dry gas production will drop to 89.84 billion cubic feet per day (bcfd) in 2020 and 84.89 bcfd in 2021.Last year, production was at an all-time high of 92.21 bcfd.
If the 2021 prediction comes true, it would be the biggest year-over-year drop on record, according to data that goes back to 1930.
