Are We There Yet, OPEC? Oil Policy Needs a Destination: Gadfly - Bloomberg

Are We There Yet, OPEC? Oil Policy Needs a Destination: Gadfly - Bloomberg:

"Are we there yet?

We've learned two things on the oil policy of OPEC and friends from meetings in Muscat, Oman and Davos. They don't know the destination, but they know they haven't got there.

Since the group started their output cuts in January last year, it gradually emerged that they had a goal of returning inventories to a five-year average level. But this benchmark has never been precisely defined. What inventories? Where? Measured in what units? Against which five-year baseline? None of these questions has yet been addressed."



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