T. Boone Pickens Remains a Fervent Oil Bull

Includes: DBO, OIL, USO
by: TickerSense

In a CNBC interview Tuesday morning, T. Boone Pickens suggested that oil may climb above $150/barrel this year, which was promptly followed by a $2 rally in the commodity.

Birinyi Associates promptly distributed a note to clients which shows that Mr. Pickens' comments should not be ignored. His historical comments, shown below versus an oil price chart, have since been reproduced by Reuters and by CNBC.