OREANDA-NEWS. Specialists predicted “gas Armageddon” in the United States due to oversaturation in the global market and decrease in fuel demand. This was reported on January 31 by Bloomberg agency with reference to Bank of America.

According to analysts, American gas producers managed to strengthen their positions due to the shale boom at the beginning of the previous decade, but now they are faced with problems in exporting goods, such as competition with other suppliers (for instance, with Australia) and warm winters, due to which European consumers use less volumes of fuel. The demand for raw materials from China is also declining, which, coupled with these factors, can make exports unprofitable for US producers. In this case, they will have to sell raw within the domestic market, which will lead to a significant drop in prices.