The Energy Information Administration, citing strong U.S. natural gas production, cut its 2011 average price forecast to $4.58/MMBtu, down from last month's forecast of $4.76/MMBtu. The EIA sees gas production this year rising 3.5%, but expects drilling activity to slow heading into next year. The statistical arm of the Department of Energy reiterated its view that gas output should fall in 2011, but cut its estimated decline to 1.5%, from the 1.9% reduction forecast last month. Nymex November gas futures recently trade +10.1c, or 2.8%, at $3.730/MMBtu.

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