Oct. 17 (Bloomberg) -- Boone Pickens, chairman of Dallas- based BP Capital LLC, told financial news network CNBC that crude-oil prices will rise to $100 a barrel, perhaps before the end of this year.

``It could come this quarter,'' Pickens said today on CNBC. ``Within a year, you're going to see $100 oil.''

Oil demand is ``still whistling along'' after rising to a record high, Pickens said. Pickens on Sept. 19 said oil may reach $100 after falling to $78. Oil futures on the New York Mercantile Exchange fell to as low as $78.35 a barrel on Oct. 8. The futures yesterday touched an all-time high at $88.20.

``I still believe 85 million barrels is all the supply is, and you're going to have a demand of 88 million barrels,'' Pickens said. ``It's going to get very, very dicey in the fourth quarter. I don't know where the world chokes on the price.''

Speculation over potential disruptions to oil supplies from Iraq and other producing nations is contributing to gains in prices, as is the fall of the U.S. dollar against other currencies, Pickens said.

BP Capital, with $2.5 billion in assets, has seen its holdings rise 21 percent in value this year after a 26 percent gain last year, Pickens said. About 80 percent of this year's increase is from equity investments, which comprise 90 percent of the holdings, he said.

To contact the reporter on this story: Jim Polson in New York at jpolson@bloomberg.net.

Last Updated: October 17, 2007 09:35 EDT