Andurand Capital founder Anduran predicted oil at $140 per barrel

The cost of a barrel of oil can soar to $140. This forecast was shared in an interview with the Financial Times by one of the largest traders in the energy sector, Pierre Andurand, who founded Andurand Capital.

In his opinion, the price jump will occur as early as 2023 against the backdrop of a recovery in demand for black gold in China. The opening of China will lead to a much stronger growth in demand for this type of fuel than expected.

The expert believes that world demand for oil will be able to increase by 4 million barrels per day, while the average annual growth was usually four times less. Therefore, even the absence of problems with the supply of oil from the Russian Federation to the global market, which is now looking for new buyers in Asia and is ready to provide those with a big discount, will not delay the rise in prices.