GAS

Gas glut to slow US production

SPECULATION is rising US President Barack Obama will use today's State of the Union address to promote a "new era for American energy" centred around domestic gas production, but domestic producers are looking to reduce their output as depressed gas prices begin to bite.

James McGrath

Chesapeake Energy, the second largest US producer, announced on Monday it would immediately cut its dry gas production by 8%, or 500,000 cubic feet of gas per day as it looked to counteract the effects...

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