According to American Chemistry Council (ACC) Weekly Chemistry & Economic Trends report on February 3, 2023, oil prices moved lower during the week on weaker U.S. data, concerns about a slow rebound in China, and a higher dollar. Natural gas prices continue to fall below $2.50/mmbtu on a combination of weak demand (mild winter, industrial recession, etc.) and strong production gains. The combined oil and gas rig count was steady at 769 during the week ending 27 January.
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