Low U.S. Natural Gas Prices Weigh on Oil Producers’ Cash Flows

The slump in U.S. natural gas prices in early 2024 hit the cash flow generation of dozens of listed, mostly oil-producing companies. The financial reports of 36 publicly traded oil companies that produce most of their crude oil in the United States showed that combined cash from operations dropped to $23.3 billion in the first quarter of 2024, down by 12% compared to the first quarter of last year, the U.S. Energy Information Administration (EIA) said in an analysis this week.    The benchmark U.S. crude prices, West Texas Intermediate…