Oil Trader Who Foresaw Decline Says Price Has Bottomed
- Andurand sees oil at $50 a barrel by end 2016, $70 in 2017
- Investors should expect heightened volatility along the way
Meet an Investor Who Made Money As Oil Fell
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Pierre Andurand, the founder of the $615 million Andurand Capital Management who correctly predicted the slump in oil prices, said the commodity has probably hit bottom and will end the year higher.
The price of oil will probably rise to $50 a barrel this year and $70 a barrel in 2017, though investors should expect heightened volatility along the way, he said Jan. 22 in an interview on Bloomberg TV.