"Record U.S. Natural Gas Consumption in January Despite Falling Prices"

The Energy Information Administration reported that the United States set a new record for natural gas consumption on January 16, 2024, with 141.5 billion cubic feet consumed in the Lower 48 states. Extreme weather conditions drove up demand, with residential and commercial users accounting for nearly half of the consumption. This surge in consumption also led to near-record levels of natural gas being withdrawn from underground storage. The International Energy Agency forecasts a 2.5% growth in global natural gas consumption for 2024, following a 0.5% growth in 2023.