Liam Denning, Columnist

OPEC Has Your Back. Feel Better?

The cartel’s ability to pump more to keep prices in check is dwindling.

June 26, 2018 at 1:00 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.

At OPEC, the customer is not always No. 1.
Photographer: Stefan Wermuth/Bloomberg

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The day after OPEC delivered a statement with all the clarity of a White House press briefing, Saudi Arabia’s energy minister went out of his way to clarify one thing: Consumers can count on the group to deliver.

History (and projections) would suggest not to take that at face value.