By SIMONE FOXMAN on 1/22/2016
LONDON (Bloomberg) -- 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/bbl this year and $70/bbl in 2017, though investors should expect heightened volatility along the way, he said Friday in an interview on Bloomberg TV.
"We are in a world where we see very low prices followed by very high prices," Andurand said in the interview. "I actually think it has bottomed."
