According to American Chemistry Council (ACC) Weekly Chemistry & Economic Trends report on February 10, 2023, oil prices moved higher during the week on higher expectations for global growth. Natural gas prices continue to fall below $2.50/mmbtu with continued unseasonably warm temperatures. With the recent retreat in natural gas prices over the past six weeks, the competitiveness of U.S. natural gas-based chemistry has been enhanced. The combined oil and gas rig count fell by 12 to 757.
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American Chemistry Council
The American Chemistry Council (ACC) represents the leading companies engaged in the multibillion-dollar business of chemistry. ACC members apply the science of chemistry to make innovative products, technologies and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health, safety and security performance through Responsible Care®; common sense advocacy addressing major public policy issues; and health and environmental research and product testing. ACC members and chemistry companies are among the largest investors in research and development, and are advancing products, processes and technologies to address climate change, enhance air and water quality, and progress toward a more sustainable, circular economy.
