As financial markets are distracted once more by Federal Reserve Chair Janet Yellen, crude is not immune to this influence, making moves in response to the U.S. dollar’s gyrations (crude up, dollar down). We’ll choose to ignore this hullabaloo, and hark, consider six things specifically relating to oil markets today: 1) Even the world’s smaller oil producers and exporters play a key role in the global oil market. Even though we consume some ~96 million barrels per day of crude, the market remains at the mercy of incremental daily swings in supply and demand. The North African nation of Chad exports the majority of its oil production, with an average of ~130,000 barrels per day of its heavy sweet Doba grade making its way into the international market. In the last year and a half, Doba exports have made it to thirteen different countries across various […]