Star hedge fund trader Pierre Anurand has predicted that demand for oil will surpass expectations even if global economic growth stalls, according to a report by Bloomberg.
Star hedge fund trader Pierre Andurand has predicted that demand for oil will surpass expectations even if global economic growth stalls, according to a report by Bloomberg.
In a post on Twitter, Andurand, whose largest commodities fund chalked up a return of around 160% in the first six months of 2022, said that while Covid-19 lockdowns mean that consumption growth is currently behind the trend of the past four decades, a reversion to ‘normal’ levels is on the cards.
Demand “is more likely to surprise to the upside, even in a very weak economy,” he wrote. A return to normal levels of demand though depends on sufficient supplies being secured worldwide and sanction son Russia may take that more difficult to achieve.
