Reuters – Oil-focused hedge fund manager Pierre Andurand said on Thursday that he expected benchmark Brent crude to drop to about $50 a barrel by year-end due to higher production and market volatility.
“I don’t think the market is ready to see $80 to $90 oil in the short term,” the manager of the $450 million London-based Andurand Capital told Reuters ahead of his speech at an industry conference in New York on the direction of oil.
