Despite the recent volatility in crude, energy entrepreneur Boone Pickens is sticking to his prediction that oil will hit $70 a barrel by the end of the year.
In an interview with CNBC's "Power Lunch," Pickens said that he expects demand to grow while U.S. production slows down.
"If I miss on $70 it'll be because it's over $70, not under $70. That's how confident I am," the founder of BP Capital said. "I think demand will be over 2 million barrels a day."
