Caution and Optimism in equal measure

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Oil is getting tonked on this final Monday of the month, as broader market volatility is bringing out the bears. Signs of OPEC compliance continue to counter signs of life from US shale production, with shale winning the price war today. Hark, here are five things to consider in oil markets today:  

1) Let’s continue with our theme of U.S. crude imports that we kicked off with last week, in light of a potential Border Adjustment Tax (BAT).  As we discussed last week, the U.S. still imports about 5 million barrels per day of crude by water, as well as receiving