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Main » 2015 » November » 20 » T.Bun Pickens: oil will cost $ 70 by June
T.Bun Pickens: oil will cost $ 70 by June

Oil tycoon T.Bun Pickens expects by June the price of oil around $ 70 a barrel - almost twice as much from today's prices - based on AMarkets.




Billionaire investor offers to buy oil through the Oil Fund ETF (USO) or through equity fund of oil and gas producers ETF (XOP). 
Schlumberger, the largest service provider for the oil market is more pessimistic, suggesting that oil starts to recover no earlier than 2017. Service companies were the first in the industry, who started to cut costs and lay off people.

It is interesting that, despite the fact that Pickens is waiting for strong growth of oil in 2016, he is still convinced that the price bottom has been reached. And, in particular, the market for oil shale still be even worse condition than now - derricks are closed further.

Views: 254 | Added by: mik | Rating: 0.0/0
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