Weekly Storage numbers
I know that everyone likes to think that the strong daily production in the lower 48 is the “soup de jour” ……. you know, the “only” talk of the town and nothing else matters. But I simply must point out that given the withdrawal number this week (162Bcf) we are now just a mere 10Bcf above where storage was on Nov. 21st/2008 which was….. now make a note of this…. 3422. Now our figure today, 3432 matches up with the same day Nov.21st, 6 years ago! The 3422 is the low point for this week in the last 6 years and we are practically tied with it. In fact, percentage wise, we are 9.2% behind last years storage # and 10.4 % below the 5 year average. This compares to Nov. 7th final injection week figures of - 5.74% and -6.16% below last year and the 5 year average. As you see, we continue to head lower.