Higher crude oil prices over the past month reflect declining global oil inventories, geopolitical events, and increasing expectations for global economic and oil demand growth, the US Energy Information Administration said in its October Short-Term Energy Outlook. Source: News

US railroads have an opportunity to create a more robust safety system to transport crude oil and ethanol resembling pipeline and maritime carriers’ generally more effective regimes, an Oct. 11 report by the National Academies of Sciences, Engineering & Medicine said. Source: News

Total SA of France has let a contract to Wood Group PLC to provide long-term support services at subsidiary Total Lindsey Oil Refinery Ltd.’s 110,000-b/d refinery in North Killinghome, Immingham, Lincolnshire, UK. Source: News

State Gas Ltd. (SGL), Brisbane, has made its entry onto the Australian Stock Exchange (ASX) with an initial public offering heavily oversubscribed this month. Triangle Energy (Global) Ltd., Perth, has taken a major holding of 35%. Source: News

Crude oil prices gained more than $1/bbl on the New York market Oct. 10 with the November contract settling just under $51/bbl after Saudi Arabia announced plans to reduce its November crude oil exports. Source: News

France’s largest bank said it will shun investment in unconventional and Arctic oil and gas resources as the country’s lower house of parliament upheld a government plan to ban oil production. Source: News