Pierre Andurand, prominent oil hedge fund manager, predicts price rise for oil
Reported from Bloomberg.
Pierre Andurand citing reluctance of energy companies to invest in new production meant that $300 a barrel was 'not an impossibility' in a few years.
He makes a fair point. The historically low prices we have been seeing have meant many cost cutting measures for oil companies. New production plans would necessarily have been hit with the lower prices. Whether prices can actaully surge to $300 a barrel in the next few years remains to be seen.
