According to American Chemistry Council (ACC) Weekly Chemistry & Economic Trends report on May 26, 2023, oil prices moved slightly higher this week on an unexpectedly large drop in U.S. crude inventories. U.S. natural gas prices were little changed during the week. European gas prices have fallen to two-year lows on weak demand expectations, especially from the industrial sector. The combined oil and gas rig count fell for a third week, down by 11 to 716 and were lower than a year ago. After peaking at the end of last year (at 782 at the beginning of December), the rig count has been drifting lower.
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Published on May 29, 2023 9:13 AM (GMT+8)Last Updated on May 29, 2023 9:13 AM (GMT+8)
