Teamsters, unions question Dakota Access reconsideration

The Obama administration’s decision to withdraw and reconsider permits it issued for the proposed Dakota Access crude oil pipeline raises serious questions about the future of building US systems and the livelihoods of the project’s construction workers, general presidents of the International Brotherhood of Teamsters and four other labor unions said. Source: News


French joins Penn West as president, chief executive officer

David French will join Penn West Petroleum Ltd., Calgary, as president and chief executive officer effective Oct. 24, succeeding Dave Roberts. French also will join the company’s board. Source: News


EIA: US petroleum product exports rose in first half

The US exported 4.7 million b/d of petroleum products in this year’s first half, an increase of 500,000 b/d over first-half 2015 and almost 10 times the crude oil export volume, according to data from the US Energy Information Administration. Source: News


MARKET WATCH: NYMEX oil prices hold above $48/bbl

The US light, sweet crude oil price for November rose for a fourth consecutive session Oct. 3 to settle just above $48.80/bbl, marking the highest front-month settlement since July 1. The Brent crude oil contract for December settled at nearly $50.90/bbl, its highest front-month closing since Aug. 18. Source: News


EIA: US oil, gas output fell slightly in July

US crude oil production during July fell just 0.2% vs. the June average to 8.685 million b/d, according to the US Energy Information Administration’s Monthly Crude Oil and Natural Gas Production Report. The July US average was down 7.8% year-over-year. Source: News