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T. Boone Pickens sees oil at $75 by end-2009
March 5, 2009 / 9:01 PM / 9 years ago

T. Boone Pickens sees oil at $75 by end-2009

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

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