BP Capital Management Founder T. Boone Pickens Tells Fox Business Network That He Sees the West Texas Intermediate Near 95 to 100
Excerpts from the report are below.
On his outlook for the oil industry:
“Our industry, the oil and gas industry in the United States, has done an unbelievable job. They have advanced the development of oil and natural gas, natural gas first, oil second, but now you are increasing a million barrels a year, unbelievable, the only place in the world that is increasing their production. So now I see WTI 95 to 100. I think you are kind of range-bound between 90 to 100 now, so I don’t see that move up 80 before 60.”
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