US Natural Gas Output Will Grow More Than Expected Next Year, Says the Dept of Energy

CNBC |Tom DiChristopher

The EIA reported that the US is becoming a net exporter of natural gas.

U.S. drillers will produce more natural gas next year than previously expected as exports rise and gas-fired plants generate more electricity, the Department of Energy reported on Tuesday. The department’s Energy Information Administration hiked its output forecast by 1.2 percent, or nearly 1 billion cubic feet per day, in its latest Short-Term Energy Outlook released on Tuesday. EIA projected that drillers would turn out 77.34 billion cubic feet a day in 2018, up from its prior estimate of 76.42 bcf per day.

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