It doesn't feel like it, but oil prices have had a pretty good snap back in the last couple of months having rebounded nearly 40 percent from the lows set in March.
But we still have prominent voices like Goldman Sachs suggesting that we are still in for another oil price drop coming before the end of the year.
So is oil going to continue higher, stay the same or drop?
Boone Pickens thinks that oil will continue to rebound. Here is why:
- year on year oil demand is up 2 million barrels per day globally
- the rig count matters, you can't lose half your rigs and not have an impact
By the end of the year he sees $75 per barrel.
