Wax on, wax off; oil prices are rallying after selling off for the last three days, egged on by yesterday’s supportive inventory report and the ebb and flow of OPEC hope. Hark, here are five things to consider in oil markets today: 1) I hope you are sitting down for this statistic, for it is more nutty than, well, let’s not go there. Our ClipperData show that exports from OPEC’s 14 members last week reached a record pace of 29 million barrels per day. Not only is this statistic fascinating, but so is the driving force behind it: Saudi Arabia. Its exports ramped up to 8.4 million barrels per day last week, the highest level on our records. All the while, Libyan exports in October are more than double last month’s pace at >400,000 barrels per day as production returns, while Nigerian exports have rebounded from their […]