Oil is trudging tiredly lower into the weekend, exhausted after an onslaught of oil-specific releases and (another) week of ongoing OPEC rhetoric. Hark, here are five things to consider in oil markets today. 1) Earlier in the week, we highlighted how Indian crude imports reached a record last month . The four leading suppliers this year are Saudi, Iran, Iraq and Venezuela. combined, they account for some 60 percent of flows: (Click to enlarge) 2) According to North Dakota’s Department of Mineral Resources, oil production in the state for August dropped 4.7% on the prior month to 981,039 bpd. EIA’s projection has it pegged just below this number at 968,000 bpd, while our own proprietary well-by-well production model suggests Bakken production won’t drop below 1 million barrels per day until next month. By the state department’s estimate, this is the lowest level since March 2014. Completed wells […]