Oil around $50 by second half of 2016: Dan Yergin

8:08 AM ET Mon, 9 May 2016

Dan Yergin, IHS vice chairman, discuss the new oil order in Saudi Arabia after long term oil minister Ali al-Naimi was replaced by Khalid al-Falih and provides his outlook on oil prices. There's a big chunk of oil that's now been taken out, says Yergin, commenting on the impact of Canada's devastating wildfire on crude.