Moody's Investors Service today raised its medium-term price band for crude oil to USD 45-65 per barrel from USD 40-60 as continued OPEC-led production restraint and strong global demand growth have contributed to declining global inventories, offsetting rapid increases in US shale production. At the same time, Moody's maintained its price band for North American natural gas at Henry Hub, the industry's chief measure of natural gas prices, at USD 2.50-3.50 per million British thermal units (MMBtu), while raising the price band for natural gas liquids (NGLs) to USD 20-30 per barrel, up from USD 19-27.