Liam Denning, Columnist

OPEC Can Drain Some Oil Barrels With a Calculator

Easy comparisons will help the cartel chase a stock-cut target, for now.

December 1, 2017 at 6:19 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

1512152468_GettyImages-123090251 — Photographer: Andrew H. Walker/Getty Images for HP

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Catching a moving target is difficult, but it's far easier if the target is moving toward you.

OPEC and its associates, which extended their supply cuts on Thursday, are chasing a particularly elusive quarry known as the five-year average of commercial oil inventories in the OECD countries.