China’s Real Estate Bubble And 5 Other Predictions that Turned Out to be Wrong

1. Pierre Andurand: Oil Prices Rally 2022

Prediction: 2022

Pierre Andurand is one oil trader who always seems to have an edge in predicting the direction oil prices are likely to go. The hedge fund manager specializes in trading oil and other commodities and is best known for his contrarian and bullish views on oil prices.

The hedge fund manager accurately predicted that oil prices will implode as the COVID 19 pandemic started causing havoc in China. In 2022 he would yet again be on the spotlight on predicting that oil prices will jump to an all-time high of $200 a barrel. The prediction came amid concerns that African members of OPEC and the US shale patch were struggling to replace the Russian crude that was going off market

Andurand also reiterated that even if Russia and Ukraine reached a cease fire Russian oil will not return and that oil prices would still go higher.

“I don’t think that suddenly they stop fighting, the oil comes back. It’s not going to be the case. The oil’s going to be gone for good,” Andurand told the Odd Lots podcast.

However, that was not the case as oil prices struggled to find support above the $100 a barrel level. After initially rising to highs of $120 a barrel, oil tumbled amid waning demand from China to close 2022 at lows of about $74 a barrel.

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