American Chemistry Council (ACC) Weekly Chemistry & Economic Trends report on October 14, 2022 Oil prices were a little higher on last week’s OPEC announcement for additional production cuts at a time when strategic reserves around the world are historically low. The SPR is at four-decade lows following a series of coordinated releases intended to stabilize oil markets following the Russian invasion of Ukraine. U.S. natural gas prices were slightly lower than a week ago. The combined oil and rig count fell by three to 760 during the week ending 10/7.
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