Even though crude prices may be subdued amid thin trading over the holiday period, there is always a thing (or five) going on in the oil markets. Henceforth, hark…here are five things to consider in oil markets today: 1) SOMO, Iraq’s state oil marketing company, has issued a statement saying it has firm plans to ‘ cut daily crude oil exports by specified percentages ‘ as it looks to comply with its agreed production cut of 210,000 bpd. One thing it doesn’t mention, however, is whether it will cut output by January 1 , as agreed. (An aside: my gosh, 2017 is going to be epic). 2) According to our ClipperData , crude waiting offshore in the Gulf of Mexico has risen to a four-month high at just under 25 million barrels, amid strong arrivals from the Arab Gulf last week. There is still a backlog of large vessels […]