Daniel Yergin


Last quote by Daniel Yergin

Venezuela is an important producer. It seems on the verge of turmoil. If it really moved into turmoil and you lost oil from Venezuela, that would be a shock to the market.feedback
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Nov 17 2017
Daniel Yergin has been quoted 76 times. The one recent article where Daniel Yergin has been quoted is Saudi Arabia’s Grand Plan to Move Beyond Oil: Big Goals, Bigger Hurdles. Most recently, Daniel Yergin was quoted as having said, “The crown prince is a change agent on a very big scale, and this conference is a very big signal about how rapid is the pace of change, and that it is really happening. This is driven by the recognition that an economic model based largely on oil, which worked for four decades, is no longer sufficient when 70 percent of the population is 30 years or younger, oil prices are volatile and the world is going digital.”.
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Daniel Yergin quotes

Jul 06 2017 - OPEC

It shows you there is so much supply, the focus is on the inventories, the focus is on how U.S. production keeps coming up, so something that in other circumstances would've sent shudders to the oil market doesn't happen.feedback

Jul 06 2017 - OPEC

Forget that world of $100 – that was not the new normal; that was an aberration.feedback

Jul 04 2017 - Russia

Europe is going to be the great competitive arena between Russian gas and LNG.feedback

Jun 20 2017

I have a little trouble seeing what they would do. If I were them I would take the long view and say this was good.feedback

Jun 20 2017

These are financial decisions. What was becoming unbridled confidence will be less unbridled.feedback

Jun 20 2017 - Oil

It's clear the oil price is not only measuring supply and demand. It's taking the temperature of sentiment and sentiment is overwhelmingly negative now.feedback

Jun 20 2017

The impact is not coming tomorrow or next week, but this will have a big impact on what happens next year. Who is going to have the same confidence they had four weeks ago?feedback

Jun 20 2017 - OPEC

$43 is not very far from $39. What we can guess is we're going to see another summer of cratering.feedback

Jun 16 2017 - OPEC

Those are the two things that are defining the market right now.feedback

Jun 16 2017 - OPEC

For both sides, there has been one twist in the road after another.feedback

Jun 15 2017 - Qatar

I was in St. Petersburg two weeks ago, and the sense you got is Putin is actually looking at his March 2018 election and wants economic stability. He doesn't want a kind of free-fall in prices. That's the pressure that they're feeling. That's why they came together. And that's why what the Saudis wanted to see was Russia on board. And Russia got on board because of the same revenue thing.feedback

Jun 02 2017 - OPEC

I think that's the kind of viewpoint OPEC took, that they've got to run this thing into next year.feedback

May 26 2017 - OPEC

I think OPEC is actually back in business [but] as a swing producer.feedback

May 16 2017 - OPEC

You can certainly say a lot of shale today will be competitive between $40 and $50 a barrel. The question mark is what's going to happen to costs. We do think the costs this year in the Permian will go up 15 to 20 percent. Rising costs will temper activity somewhat.feedback

May 15 2017 - Oil

For the Saudis, as for all the other exporters, low prices could really create enormous stress. They really want to solve this issue. For the Russians, they've seen their sovereign wealth fund deplete quickly and the oil revenues are a big part of the government budget.feedback

May 11 2017

The task force's proposals are useful in terms of heightening the discussion around climate risk but eight decades of understanding of the materiality concept would be changed by this initiative. The use of scenarios and metrics is misleading; there are issues around confidentiality and why should we single out just one risk?feedback

May 01 2017 - Trump Presidency

Exporting L.N.G. meets many objectives, including helping to address the trade imbalance. This supports jobs, this supports investment in energy, this supports exports, a whole host of administration objectives.feedback

Mar 23 2017 - OPEC

The Saudis certainly sent a very strong message that they were not going to do this alone, and they were not going to be the swing producer and make room for other exporters. It was kind of a reiteration of what has been the Saudi position. They'll play a stabilizing role but they'll not play a swing-producing role.feedback

Mar 23 2017 - OPEC

This is certainly going to lead to second thoughts about drilling programs for the second half of the year.feedback

Mar 06 2017 - NAFTA

I expect to hear a great deal at CERAWeek from Prime Minister Trudeau and industry leaders about the importance and mutual benefit from the large cross-border energy [integration]. Whatever the eventual outcome of the NAFTA debate, they're not going to want to lose benefits.feedback

Mar 06 2017 - NAFTA

The growing energy integration of North America is very beneficial to all three countries. U.S. natural gas producers get additional markets, while Mexican consumers get lower-priced electricity generated with that gas. Canadians get markets for their oil, reducing U.S. reliance on Venezuelan oil, while American workers in manufacturing benefit from big equipment markets to the north.feedback

Mar 06 2017 - NAFTA

This integration is not only beneficial from an economic point of view but also from a development point of view, which was one of the reasons it was encouraged in the first place.feedback

Mar 05 2017 - OPEC

The oil market has been rebalancing and the powerful forces of supply and demand have been working. The mood will be different this year.feedback

Mar 03 2017 - OPEC

That was a key relationship for the dialogue they made for this OPEC, non-OPEC agreement, which really hasn't happened before, and the compliance is higher than it's been in the past. I think they're committed to this deal, and that's one of the main things they want to convey.feedback

Mar 03 2017 - Oil

More prominent in this year's program will be that they are raising capex, but it's cautious.feedback

Feb 10 2017 - OPEC

I think the reason that they're sticking to this agreement is necessity and what it means to their own national budgets.feedback

Feb 09 2017 - Oil

A dollar invested in 2017 produces about two and a half times as much oil as a dollar invested in 2014, so I think even at these lower prices we're going to see this recovery.feedback

Jan 18 2017 - OPEC

I think the whole oil industry worldwide has re-calibrated to a lower oil price level and shale is a lot more efficient.feedback

Jan 18 2017 - OPEC

No OPEC agreement is perfect but if there's large compliance it brings a sub-sense of stability. These countries were all looking at their budgets and needed to do something.feedback

Jan 18 2017 - OPEC

OPEC now sees shale as part of the global mix.feedback

Jan 14 2017

He will be seeking to take up the mantle of an open trading world in response to the uncertainty and mixed signals form the United States. He will be looking to do on the global stage what they're already doing in Asia with the end of [Trans-Pacific Partnership] and China pushing its own regional trading relationships.feedback

Jan 14 2017

We'll hear a lot from other countries as they try to sort out what Trump policies will be and how to reshape their polices to adjust to it.feedback

Jan 14 2017 - Chinese politics

It's interesting the Chinese president will be there, and he's going to be, from all the signs, the most important international speaker there. It's the first time, I believe, the Chinese president has ever come.feedback

Dec 13 2016 - NAFTA

Mexico has become a very important market for U.S. gas producers and without it, we'd be looking at lower prices.feedback

Dec 13 2016 - NAFTA

Instead of Mexico spending a fortune building new refineries, they are buying from the U.S., and it turns out energy exports are now an important contributor to the jobs in our economy.feedback

Dec 12 2016

It was a business relationship. The whole Russian thing is so much front and center now so it's inevitable that those questions be asked but, obviously, if you are a major oil company, you want to go to where your resources (are). You have to replace your reserves.feedback

Dec 12 2016

He is a straight arrow. If that's his mission, that's what he'll do.feedback

Nov 30 2016

I think the Saudi minister has been very explicit now for over a year, warning that the under-investment could lead to a fly up in prices before the end of the decade, and that is something they don't want to see. They recognize that low prices are a big problem, but so are high prices – if you're a long-term supplier – because it erodes demand and encourages alternatives.feedback

Nov 30 2016

They need a decent oil price, and they need to maintain market share. Part of the great irony of Vision 2030 is that in order to diversify the Saudi economy away from oil, they need to sell oil.feedback

Nov 25 2016 - Iraq

I think there's a 70 percent chance they'll get an agreement. That's how I rate it. If it breaks down, it will be much more over Iran than Iraq. All of them are feeling the revenue pressures. The market is rebalancing, but it's taking longer than expected.feedback

Nov 10 2016

The outcome of the U.S. election adds to the challenges for the oil exporters because it will likely lead to weaker economic growth in an already fragile global economy. And that means additional pressure on oil demand.feedback

Sep 28 2016 - OPEC

I think the price will wobble, but it certainly keeps more support than walking away with nothing. What I think is this will be a process. This isn't even an official OPEC meeting, and it buys them time. It's them negotiating to negotiate.feedback

Aug 12 2016

You see postponements, delays and cancellations, so you're going to see as supply-demand balance that's going to be different over the next couple of years. The question now is of course struggling with price, but in three, four, five years, how are we going to meet 5 or 6 million barrels a day of new demand growth?feedback

Aug 12 2016

I think the pre-eminent thing is about maintaining market share.feedback

Apr 18 2016 - Qatar

We still expect one way or the other, the price looks like it will be at that $40 to $50 range in the second half of the year. With the freeze, it would have gotten there earlier ... there's a question about Kuwait, declining U.S. production. Declines elsewhere just because investment slowed down.feedback

Apr 18 2016 - Qatar

What this does is it restates Saudi Arabia's pre-eminence in the world oil market – it has a unique position and flexibility that nobody else has. The current mantra is 'Let the market manage the market,' and the phrase they'll use is 'We'll produce the barrels our customers want.' What this does is it reasserts their power in the world oil market.feedback

Apr 18 2016 - Qatar

The big decision from Riyadh is to take decision-making away from the exporters and leave it to the market.feedback

Apr 18 2016 - Qatar

By some time in the summer, it will be down to 8.3 million barrels a day.feedback

Apr 16 2016 - Qatar

In 2014, OPEC revenues were about a trillion dollars. Last year, they were half a trillion dollars. This year they're on a course to be down another 20 percent. This creates inordinate pressure on governments. Very difficult choices have to be made. Budgets have to be cut, credit ratings go down. There is a risk of social turmoil and problems. I think that is really weighing on producers, forcing them to find some way to stabilize things.feedback

Apr 16 2016 - Qatar

There's a lot of rhetoric, a lot of statements around the oil market, but the fundamental thing you have to look at is money. It's revenues, and the revenues of these countries that export oil have really collapsed.feedback

Apr 12 2016

I think with all the countries gathering, if there is not an agreement, prices will fall sharply and for each of them, it means new pain in their budget. It will hurt them a lot. Being able to sustain prices convincingly above $40 is very much in their interest.feedback

Apr 12 2016 - Qatar

Were it not for the Iran issue, you could count on there being a freeze. I think with this meeting in Doha, there's so much invested in it, there's the likelihood it will end with some kind of agreement, though one that will have some sort of ambiguity in it.feedback

Apr 12 2016 - Iran

What is still to be determined is how much additional oil Iran could put in the market on a sustained basis. These prices demonstrate why the exporters will try to find a way to cooperate again.feedback

Apr 01 2016

He's the top decision maker on oil. ... That's part of his brief. I think these decisions are very considered. It's not just made up on the spot. ... One of the messages is that Saudi Arabia is going this to be a bigger force in the world economy, not just in terms of oil but in terms of finance ... these messages have to be seen together. This is all part of a larger program of reform and protecting the Saudi position in terms of oil.feedback

Apr 01 2016

The number of producers going there shows you how alarmed the governments are about their finances with low oil prices.feedback

Jan 28 2016

I think the very fact that you've gotten this response and that this is in the air now, just shows you the economic situation for these countries is becoming more desperate. When they really have their back against the wall is when a deal gets made.feedback

Jan 28 2016

The Saudis have all along, have consistently said they would not cut by themselves but if the other big players will cut they will cut too. They're not going to absorb the blows for others.feedback

Jan 15 2016 - Saudi Arabia

There's not been an accommodation possible in OPEC?Saudi Arabia and the Gulf countries are not going to cut back, to make room for Iran coming back into the market.feedback

Apr 10 2012 - Petrobras

The program that Petrobras is launching is both critical for Brazil and the global market. She sees the big picture and, at the same time, pays close attention to the details. She will quickly become known as one of the most important people in the world oil industry, and certainly the most important and influential woman in the business worldwide.feedback

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