Boone Pickens on Oil Prices

Sunday, October 11, 2009

Boone Pickens forecasts that the price of oil will rise to 75 dollars/barrel by the end of 2009 as the economy starts its recovery.

Still, he expects demand is going to surpass supply by 2011, and the price of oil will once again jump up.

“I say 60 a barrel before it drops below 40” said Pickens to the business TV channel CNBC.

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