Andurand Says Oil May Surpass $140 a Barrel as Asia Reopens
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Oil prices may exceed $140 a barrel this year if Asian economies fully re-open after Covid-related lockdowns, according to hedge fund manager Pierre Andurand.
Even with a weak macroeconomic background this year, oil demand could grow by more than 4 million barrels a day, or about 4%, roughly double the amount expected by leading forecasters, Andurand said in an interview. The trader’s main commodities fund capped a third year of stellar gains in 2022 with an advance of 59%.