Pierre Andurand

Pierre Andurand studied mathematics and economics at HEC Paris and began his career in oil trading at Goldman Sachs, where he traded oil derivatives in Singapore and London. He then joined Vitol Group, one of the world's largest commodity trading houses, where he managed oil trading. In 2007 he co-founded BlueGold Capital Management with Dennis Crema. BlueGold generated returns of approximately 209% in 2008 and 55% in 2009 through prescient macro oil trades, making it one of the best-performing hedge funds globally in those years. Following a difficult 2011 that led to BlueGold's closure, Andurand founded Andurand Capital Management in 2012. He has built a track record of correctly calling major oil market turning points: he was short oil in 2014 when prices collapsed from $100 to $50, correctly predicted the COVID-19 demand destruction in early 2020 before most market participants, and was positioned for the energy price spike in 2021-2022. Andurand Capital has grown to manage over $2 billion and is widely regarded as the world's foremost energy-focused macro hedge fund. Andurand is also known for being one of the most publicly vocal advocates for a structural tightening in global oil supply due to underinvestment in production capacity — views that have attracted both followers and critics in the energy investment community.