Natural gas prices in West Texas turn negative, suppliers forced to burn excess production

金十2026/03/23 00:55

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Golden Ten Data reported on March 23 that the Waha natural gas trading hub in the Permian Basin in West Texas produces about a quarter of the United States' natural gas output. Last week, its spot natural gas price once dropped to -$9.75 per million BTU. The US-Iran conflict has led local drilling companies to increase oil production, resulting in a rise in natural gas output as well. However, due to limited infrastructure, there has been a localized surplus of natural gas, forcing producers to burn off excess capacity.

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