July 7 (Reuters) - U.S. natural gas production will increase in 2021 and demand will fall, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Wednesday.
The EIA projected dry gas production will rise to 96.99 billion cubic feet per day (bcfd) in 2021 from 95.81 bcfd in 2020 before rising to 99.63 bcfd in 2022. That compares with 93.06 bcfd in 2019.
The agency also projected gas consumption would fall to 82.32 bcfd in 2021 from 83.25 bcfd in 2020, and then rise to 82.87 bcfd in 2022. That compares with a record high of 85.15 bcfd in 2019.
The EIA’s projections for 2021 in July were higher for supply and lower for demand than its June forecasts of 92.18 bcfd for supply and 82.85 bcfd for demand. (Reporting by Scott DiSavino and Jessica Resnick-Ault; Editing by Jonathan Oatis, Marguerita Choy, Peter Graff)
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