After the uncertainty and stress of the past weeks, the mid-February oil market is definitely showing signs of a more favorable working environment for all of us. Saudi Arabia has provided some comfort to the markets, stating it would cut production below 10mpb, more than 0.5mbpd than it had initially agreed to during the OPEC/OPEC+ Vienna Agreement, easing concerns about global supply getting way out of balance. Even though US sanctions do continue to weigh on Venezuela, it has managed to reroute somewhat its exports, making the pressure on global…