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

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

20211228 Daniel Yergin

Daniel Yergin, the vice chairman of IHS Markit, said in a recent written interview that the U.S. shale industry is experiencing the "second shale revolution," in which companies stay within cash flows and return money to investors.  © Getty Images

RURIKA IMAHASHI, Nikkei staff writer

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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