U.S. Gas Drillers Are About To Start Cutting Output ...Middle East

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U.S. Gas Drillers Are About To Start Cutting Output
source : OILPRICE ( Middle East ) () 19
Some U.S. natural gas producers that didn't hedge their output this year are having to sell their gas at prices that are below their breakeven price. At less than $2.50 per million British thermal units, natural gas prices have fallen more than threefold over the last six months with no immediate prospect of a reversal. And supply is about to tighten. In an article published earlier this week, Reuters cited industry insiders and analysts as warning that the gas price drop from more than $9 per mmBtu in August last year to $2.405 at the close of…

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