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Interview

Daniel Yergin: Shale 'revolution' to challenge Saudis, Russia on oil

Underinvesting in conventional energy may trigger crisis again, warns IHS Markit vice chairman

TOKYO -- The "second shale revolution" in the U.S. will change the current picture of the world oil market, whose sole determinant is OPEC+, led by Saudi Arabia and Russia, energy expert Daniel Yergin says.

Yergin, the vice chairman of IHS Markit, said in a recent written interview that the U.S. shale industry is experiencing a new revolution in which companies focus on "capital discipline," staying within cash flows and returning money to investors.

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