SANTA BARBARA, California (Reuters) - Texas billionaire oilman T. Boone Pickens on Thursday said U.S. crude oil prices will hit $75 by the end of 2009.
Asked at a press conference where he expected oil prices to go, Pickens said, “Up ... $75 by the end of the year.”
Pickens made similar comments in early February.
Oil settled on Thursday at $43.61 a barrel. Prices were also in the low $40s a month ago when Pickens made the similar comments, down from last July’s record high over $147.
Reporting by Nichola Groom