Natural Gas Corner - Production Update - U.S. Dry Natural Gas Production Falls For A Third Week In A Row

A weaker than expected EIA storage injection today failed to spur buying interest in the natural gas market as it instead traded down to a new 3-year low.

Increasing storage and lack of weather-related demand are the usual culprits behind today's selling.

The EIA also released their weekly production for dry-natural gas which replicated last week's .86% drop and is now down 3 weeks in a row.

Current production is estimated at 70.8 Bcf per day, well below the 75.2 Bcf per day the EIA forecast in an earlier report.  Production has been in a steady albeit tepid decline from the 74.3 Bcf per day high reached in December 2014. 

If production continues to fall, it could become an unexpectedly bullish factor for the natural gas market.