57 days of negative natural gas prices in West Texas this year due to oversupply near the Permian Basin.

57 trading days this year in West Texas have seen negative natural gas prices, with 37% of trading days experiencing this phenomenon. The oversupply in the region, particularly near the Permian Basin, is attributed to record-high US oil production. Bottlenecks and weak pricing have led energy companies to curb gas production, with additional pipelines planned to help balance supply and demand.

August 11, 2024
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