Pioneer Natural Resources Co. CEO Scott Sheffield expressed a bullish oil price outlook on Thursday (Feb. 23) during the company’s fourth quarter earnings call.

Irving, TX-based Pioneer is the largest producer in the Permian Basin, with operations focused on the Midland sub-basin.

“We remain highly constructive on oil prices,” Sheffield told analysts. “I’m still very optimistic that we’ll move back into that $90 to $100 range sometime earlier this summer as we move and get away from this $78 to $88 swing in Brent prices.”

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