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Supply/Demand Balance Analytic Report

Production declines after weekend rebound

US natural gas production rebounded over the weekend from Friday's dip thanks to a surge in output from the Northeast, but volumes dropped slightly Monday and remained below the year-to-date record set last week. West Virginia alone increased production by 0.57 Bcf from Friday to Monday, with smaller increases coming from Ohio, Alabama offshore, and portions of the Rockies. Those increases balanced against a 0.23 Bcf drop from Louisiana offshore, where maintenance works appeared to be significantly hampering production. Friday also saw a 0.6 Bcf downward revision, breaking the trend for the prior week. US demand jumped 1 Bcf over Sunday based almost entirely on a rise in power burn, but remained 2 Bcf below Friday's figure. Temperatures are expected to tick up modestly through the remainder of the week, and power burn demand should follow increasing to an average of 35.6 Bcf.

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