US natural gas production is expected to reach an average of 104.4 billion cubic feet per day (Bcf/d) in 2022 and further increase to a record-high 106.6 Bcf/d in 2023, according to the US Energy Information Administration (EIA). Wholesale spot price will average $3.92 per million British thermal units (MMBtu) in 2022, an eight-year high. The elevated pricing is driving increases in US drilling and natural gas production.
