that's john watson. what did he have to say? >> hi there, steve. we're here at the lng conference in perth in western australia. we are basically tracking a whole variety of comments out of people here at the conference. a number of lng and also major oil producers. talking about a variety of things, including that price, the weakening oil price resulting in weakening lng prices. chevron, which has some significant businesses here in australia, says it's about 40% more expensive than when they do business in the united states and mexico. you were talking about that opec meeting coming up at the weekend. i spoke to john watson, the chairman and ceo over at chevron about that, asked whether or not he thought that might help put a floor under prices or inflate prices. also, moody's cut the credit rating on chevron just at the end of last week, saying that they expect oil prices to be lower for longer. so i asked him about that as well. take a listen. >> prices are a function of supply and demand. you can get short-term movements that are a function of

speaking of will, chevron's ceo john watson was on cnbc talking about oil. listen to what he said about a possible stabilization coming to the market. >> ultimately, prices are a function of supply and demand and you can get short-term movements that are a function of sentiment. ultimately it comes down to supply and demands. when we've seen is a withdrawal of capital in the business. we are in a resource business that declines over time without capital. so new projects have been slowed down. also a lot of short cycle spending. the shale oil developments in the u.s., what we call in fill drilling in the business, that has slowed down measurably. and we are starting to see a supply response that will bring markets into better balance. >> rt will, starting to see a supply response. stabilization may be too strong of a word i think there. let's be clear. i'm not being bearish on oil but 41 a barrel is better than 31 a barrel. when oil broke below 40 on the downside it was panic city and it was too much oil in the world. suddenly we are talking about stabilizati

chevron ceo john watson says demand for natural gas is expected to rise 35% over the next 20 years, butosts to develop those assets needs to remain under control. speaking at an industry conference in australiaaustrali says they'll need a deal like lng every year. in an exclusive interview, watson also addressed oil prices, saying they're mostly a function of supply and demand. >> what we've seen is a withdrawal of capital from the business. we're in a resource business that declines over time without capital. so new projects have been slowed down, but also a lot of short-cycle spending, the shale oil developments in the u.s., what we call infill drilling in the business, that's slowed down measurably. we're starting to see a supply response that'll bring markets into better balance. >> in other corporate news, pratt and whitney, which is a unit of united technologies, has won a $1.4 billion government contract to build f-35 fighter jet engines. shares of utx up slightly, less than 1%, on the news. >>> meantime, boeing has opened talks to sell airliners to iran. if a sale does materiali

chevron ceo john watson said crude oil supplies are starting to come back into balance with currentsmeans supplies are dropping. low prices won't spur much industry development. he spoke at a conference in australia. ford's f-150 super cab pickup truck got a top safety pick rating following new tests. it was the only vehicle in the doir receive that top rating. >>> a pair of economic reports on today's agenda. march import prices come out. at 2:00 monthly federal budget statement. csx reporting earnings after the closing bell. philly fed president, san francisco fed president and richmond fed president are also speaking today in addition to mr. kaplan who will be on our show late per. >>> dallas fed president as andrew just told you rob kaplan said it's too soon for a rate hike in the united states but open to a move at the june meeting if gdp, employment and other data are sufficiently strong. you want to hear more? don't miss the exclusive interview with kaplan right here on "squawk box" at 8:00 a.m. time. >> new guy in philly. he was head of wharton. that's new. we haven't said th

john kasich we appreciate you being with us. >> thank you. dickerson: we'll be back in one minute. hello prashant bhuyan. hello watson. your analysis of social media and conversations on various trading floors, helps us uncover insights. insights that help investors predict market closes, well before markets close. you know, your analysis has helped us improve our predictive accuracy by over 500%. 550.2, to be precise, but we can always do better. i like your attitude watson. >> dickerson: with news director of elections an none knee salvanto. so, you're in new york, let's start with new york. what is the state of play there for donald trump? >> the polling has had donald trump up. but in new york as we'll see in the story elsewhere, up isn't enough any more. he has to win he has to win big. because what happens is, new york will be giving out its district also proportionally within those districts. what it is, is that for donald trump to get back on track after loss in wisconsin, after ted cruz has been cutting in to his lead he will need large win in new york, probably watch if he can get two-thirds of the delegates

watson. but not exactly movie material. perhaps the healthcare professional could be played by matt damon. you're learning, kid. >>> blackberry posting a smaller than expected quarterly loss. shares are down 8% today. johnhen says the company's goal is to ramp up software and services and put blackberry's turnaround services in the spotlight more in the next hour of the show, bill. >> thank you, kelly. >> yahoo! ceo's turnaround faced another hurdle as another key executive leaves the company. josh lipton joins us with the story. >> sandy gould is leaving gentlemyahoo! to take a break and find the next adventure. loyal devotion of a brilliant ceo and incredible and passionate leadership team leaving yahoo! is the hardest leaving i have ever done. yahoo! will always be in my heart. a number of key executives though have now left under ceo marissa mayer's watch and that would include the cmo, svp of home page of verticals and heads of marketing partnerships and development. yahoo! counters that many have left for personal or professional reasons and their departures aren't always voluntary, some did not meet mayer's expectations. investors say these add to uncertainty about the company. who is in charge a