Production data for the natural gas market can be somewhat difficult to gather as the EIA releases production on a delayed basis that is typically delayed around 2 months.
The EIA does on a weekly basis release production data from Bentek which is shown on the above table for the past 8 weeks.
Weekly production when falling is shown in red while weekly production rising is shown in black.
Over the past 8 weeks, production has fallen 5 out of the past 8 weeks. While the decrease is small, it could be showing that the natural gas rig count falling to a new all-time low may be finally affecting production.
If production does continue to fall, it could be a bullish catalyst for the market later this year. At the present time, nearly all of the focus is on storage and the likelihood for a record high amount of gas to be in storage by the end of the year.
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