Pickens: Oil To Average More Than $80 Next Year


BP Capital Management Founder and Chairman T. Boone Pickens said he continues to expect oil prices to spike when the global economy picks up and spurs greater demand for oil.

In an interview on CNBC, Pickens reiterated his view that oil prices will pass $75 a barrel before the end of this year, and he added that he expects oil prices will average more than $80 a barrel next year.

"You'll see $85-$90 before the year ends," he said. Pickens added that he wouldn't be surprised if oil prices topped the $100 a barrel mark.

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