Multi-Year Natural Gas Glut Could Soon Find Balance
Though consumers and natural gas providers have benefited from the multiyear glut, evidence shows the market may soon find balance.
The question is how prices will be impacted once the supply eases, because when cheap fuel vanishes due to lasting appreciation, it may shock the industry. Though there hasn’t been much movement yet, it's projected the surplus will ease come winter, the Wall Street Journal reports.
Onshore natural-gas production dropped in June for the fourth month in a row, and the number of rotary digs in North America hit 81 last week—an all-time low, according to oil field servicer Baker-Hughes. [WSJ]