Business Standard

Why this famous hedge fund manager thinks oil can hit $300/bbl in a few yrs

The hedge fund manager also went against the conventional view that triple-digit oil prices will dampen demand growth

Oil hits highest since mid-2015, then dips
Premium

Javier Blas | Bloomberg
Pierre Andurand, one of oil’s most prominent hedge fund managers, said the current reluctance of energy companies to invest in new production meant $300 a barrel was "not impossible" within a few years.

Andurand, who’s often espoused bullish views, said in a series of tweets on Sunday that concern about the impact of electric vehicles on future demand was limiting investment in projects with long lead times.

"So paradoxically these peak demand fears might bring the largest supply shock ever," he wrote. "If oil prices do not rise fast enough, $300 oil in a few years is not impossible."

The hedge fund manager,

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 30 2018 | 3:38 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com