Description: LAS VEGAS (MarketWatch)—Energy tycoon T. Boone Pickens says the drop in U.S. oil rig counts will keep a recent rally in crude prices alive, pushing prices to $70 a barrel by the end of the year.

Source: MarketWatch.com

Date: May 07, 2015

Link: http://www.marketwatch.com/story/t-boone-pickens-sees-oil-back-to-70-a-barrel-by-year-end-2015-05-07

Questions for discussion:

• Summarize the arguments for higher oil prices as presented in the report.
• Do you agree with these arguments?