EIA Predicts Natural Gas Inventories to Hit Decade-High Ahead of Winter
The US Energy Information Administration (EIA) has forecast that natural gas inventories will reach an all-time high of 3,985 billion cubic feet in October, marking the highest level ahead of the winter heating season since 2016.
This increase is attributed to higher natural gas production and reduced feedgas due to maintenance at LNG facilities. EIA Administrator Tristan Abbey noted that more natural gas in inventories provides a cushion for increased heating-related consumption during the winter.
The forecast also predicts lower global oil prices, with Brent crude averaging $69 per barrel by 2027 as inventories rebuild and production increases. However, prices are expected to peak at $85 per barrel in Q3 2026 due to decreased global oil inventories.