Oil trader: Oil prices could rise to 100 USD/barrel

Pierre Andurand: Oil quotations have reached the bottom

Baku. 25 January. REPORT.AZ/ This year, oil prices will rise to 50 USD per barrel.Report informs, it was stated by famous oil trader and founder of Andurand Capital Pierre Andurand in an interview with Bloomberg.

He believes that in 2017 the price can reach 70 USD per barrel, "We live in a world where low oil prices replaced by high. I actually believe that the quotes have reached the bottom.This year, oil prices will rise to 50, and in 2017 - up to 100 USD per barrel."

In an interview with the newspaper "Izvestia" P.Andurand said that the main reason for the growth of oil prices this year will be a reduction in supply from non OPEC countries.

He added that in 2018 the oil quotations could rise to 100 USD per barrel.

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