According to Bloomberg article published on December 25, 2022, US natural gas production suffered its biggest one-day drop in more than a decade on Friday as the massive winter storm battering much of North America froze liquids in pipes and forced wells to shut down.
Supplies across the Lower-48 states shrank by nearly 10 billion cubic feet, or roughly 10%, from the previous day as temperatures across key producing areas including in top supplier Texas fell below freezing, according to BloombergNEF data.
Meanwhile, domestic demand surged to the highest daily level since early 2019. Early pipeline nominations tracked by BNEF indicate that gas supplies may start to rebound Saturday while still trailing normal levels.
