CNBC interviewed legendary oil investor T. Boone Pickens, Jr., yesterday down at the NYMEX. CNBC’s Melissa Francis asked the CEO of BP Capital about the direction of crude oil in coming days:

CNBC: Where do you think we’re going from here? Are we going to hit $100 or are we going to go below $100?
PICKENS: I don’t think we’ll go below $100. I think they’ll start to support it, is what will happen, and they’ll cut production. They like it, they, OPEC, likes it up here. It’s fun. You know, their revenues this year will be one-trillion two-hundred fifty billion dollars.
CNBC: You think they’re going to cut and defend $100 on September 9? You think they’ll cut production?
PICKENS: Yeah, I do, I do. I think they will.

You can view the 4 minute 55 second interview here.

Source:

T. Boone Pickens, Jr., Interview
CNBC, September 2, 2008

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