This document summarizes trends in the oil and gas sector in Canada and the United States in October 2016. It outlines that international rig counts decreased from September to October 2016 while US and Canadian rig counts increased. Oil and natural gas prices declined in October. The document also reviews oil production levels in Canada and the US, refinery capacity in the US, Canadian oil export levels, the top 15 oil exporting countries, and new oil leases off Newfoundland. It discusses the potential impacts of the Keystone XL pipeline and government policies such as CETA between Canada and Europe.