Natural gas prices have struggled in early 2020 hitting record lows due to US dry gas production being at record high and the Covid-19 pandemic, which has affected major shale plays such as the Appalachian Basin.
Although the reduction in associated gas from crude oil production across major oil basins has provided support to the natural gas market, it does not eliminate the fact that the market remains oversupplied. Operators in Appalachian Basin are still forced to readjust their capital expenditure (capex) although at a smaller percentage compared to oil producing companies.
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