Oil prices are subdued to start the week, as the weekend’s compliance meeting has done little to allay oversupply fears. As WTI continues to trek on in forty-dollardom, hark, here are five things to consider in oil markets today: 1) OPEC members appear to have pulled a u-turn in relation to discussing production cuts via exports. When the production deal was initially announced, it was suggested that exports would not fully reflect production cut implementation. We have now had some back-pedaling from key members in recent days: Iraqi oil minister, Jabbar al-Luaibi, said that the OPEC deal is based on exports and not output . Meanwhile, Saudi Arabia is insisting that it is exports, not production, that is key to the market rebalancing . The chart below of total Iraqi crude export loadings (both northern and southern exports) serves to illustrate how much Iraq is currently complying with the […]