Liam Denning, Columnist

BP and EOG Test OPEC's Beliefs

They're fine with lower oil prices, while the cartel hopes for the opposite.

February 28, 2017 at 8:31 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.

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OPEC had better hope Bill Thomas is right and Bob Dudley is wrong.

Both of these CEOs -- the first runs EOG Resources Inc., the second BP PLC -- hosted analyst calls on Tuesday. One is a U.S. shale producer and the other a global oil major. But in one central aspect their message was the same: We're getting ever more efficient.