Crude May Reach $60 Should OPEC Cut, BlueGold Says

Oil may rise 35 percent to $60 a barrel should OPEC agree to cut production this month, according to BlueGold Capital Management LLP, the London hedge fund that returned 31 percent this year on energy trades.

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“OPEC has shown good compliance on their output cuts and they might be successful in providing a floor to oil prices,” BlueGold Chief Investment Officer Pierre Andurand said in an interview on March 4. “Oil prices have a chance to rise to $60 soon if OPEC members carry on showing a high level of compliance and announce another cut.”