Global natural gas production declined in May

Global gas production declined in May compared to April, mainly due to lower output in Russia, the US, and Norway. According to the Monthly Oil & Gas Data Review, total production across 58 countries that have updated their most recent self-reported figures fell by 4.8 billion cubic meters.

Russia was the main driver of the decline, with its gas production dropping by 3.2 billion cubic meters in May. The US saw a decrease of 1.6 billion cubic meters, while Norway's output fell by 1.3 billion cubic meters.

Global gas production inched up by 0.7 billion cubic meters year-over-year. Growth was supported by China and Nigeria, according to the Monthly Oil & Gas Data Review.

Global natural gas demand dropped sharply in May, falling by 12 billion cubic meters compared to April and 2.7 billion cubic meters year-on-year. The biggest declines were seen in the US, South Korea, Japan, Turkey, and the UK.