NEW YORK, June 21 (Reuters) - The market will test whether consumers can handle $60 crude, although the level might need to approach $70 per barrel to whittle down demand, famed oil investor Boone Pickens said on Tuesday.

"I think people are scratching their heads as to whether the world will accept $60 like it did $50," Pickens told the Reuters Energy Summit. "You could go to $70, but at some point it's going to cost on the demand side.

"Sixty may slow everything down."