Oil is charging lower to start the new week, as the monthly OPEC oil market report has done little to assuage oversupply concerns – despite the cartel’s proclamations of production cut compliance and upward revisions to oil demand growth. Hark, here are five things to consider in oil markets today: 1) Even though Russia is apparently cutting production, it is still set to boost exports of Urals, its medium sour grade . Russia’s Energy Minister Alexander Novak has been keen to point out that although Russia is cutting production, it is not cutting exports. The Russian Energy Ministry has further endorsed this notion, confirming exports via Transneft’s pipeline system in January were up 114,000 bpd from December’s level. As our ClipperData illustrate below, export loadings of Urals averaged 2.6 million barrels per day in 2016, up 16 percent versus the year prior. Loadings last month also held above 2.6 […]