US EIA raises expected Q1 gas marketed production by 280 MMcf/d to 102.2 Bcf/d US EIA raises Q1 gas demand forecast by 2.14 Bcf/d to 104.54 Bcf/d Washington — The US Energy Information Administration on Tuesday tapered its Henry Hub spot natural gas price forecasts for the fourth quarter and the start of the new year, and predicted that high production levels will keep prices in 2020 below 2019 levels, despite slower production growth. The agency, in its December Short-Term Outlook Tuesday, lowered its forecast for Q4 Henry Hub natural gas spot prices by 8 cents to $2.52/MMBtu and its Q1 2020 forecast by 11 cents from the November estimate to $2.62/MMBtu. While a colder-than-average November pushed Henry Hub prices up to $2.64/MMBtu, “EIA expects US benchmark Henry Hub spot prices to average $2.45/MMBtu in 2020, down 14 cents from the 2019 average, as US production continues at […]