Google+ Followers

Tuesday, 6 December 2016

Top trader Andurand says Opec deal a turning point

Top trader Andurand says Opec deal a turning point:
"Hedge fund manager Pierre Andurand has returned almost 15 per cent this year by betting on a recovery in oil prices and he forecasts the rally has further to run after Opec’s agreement last week to cut supplies.

The French founder of Andurand Capital, which has grown to be one of the world’s largest oil funds, returned 6.1 per cent in November as he positioned for crude’s rally and is up 14.4 per cent in the first eleven months, according to people familiar with the fund’s performance.

“Opec’s agreement was stronger than the market anticipated and with Russia joining [the deal] this has set the market up for further gains,” Mr Andurand said."

'via Blog this'