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Oil at $85 by the end of the year: Rothman

While market watchers exclaim there's a crude glut, that excess oil is nowhere to be found, according to Cornerstone Analytics' founder.

The expert argues that oil demand has been understated by most measures for the last couple of years. "Even in the just-ended quarter, global oil demand came in about 1 million barrels a day higher than what the consensus believed," Mike Rothman told CNBC's "Power Lunch."

He contends instead that "oil demand grows this year by 1.8 million a day and non-OPEC supply contracts by 800,000," and added that "there's no way that OPEC fills a 2.6 million...