Pioneer Natural Resources (NYSE: PXD) believes the weakness in oil prices over the past year is about to end. The oil company anticipates that a cascade of catalysts will support higher crude prices through the end of this year and beyond. That sets the oil company up to produce a gusher of free cash flow.

Here's a look at what's driving the oil company's bullish view on crude prices and what that could mean for investors.

Pioneer Natural Resources CEO Scott Sheffield recently provided a broad overview of the current oil market and its impact on prices on the company's second-quarter conference call. Sheffield pointed out that "crude has been range bound between $65 and $80 over the past several months." He noted that several factors have weighed on oil, including releases from the Strategic Petroleum Reserve (SPR), recessionary concerns, and weak economic data from China. 

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Source Fool.com