Snowstorm causes record drops in US gas production levels

The arctic blast and snowstorm that are tearing across the US are taking a toll on the gas production sector too, with the country recording its biggest-one-day drop in production levels in more than a decade on December 23.

As Bloomberg reported, this is due to frozen liquids inside of the gas pipelines amid the freezing temperatures of below -20°C throughout most of the US.

The gas supply levels shrank by over 280,000 m³, which is roughly a 10% drop from the previous day as temperatures across key producing areas such as top supplier Texas fell below freezing.

At the same time, domestic demand reached its highest daily levels since early 2019.