(Reporting by Julia Payne; writing by Noah Browning; editing by Louise Heavens and Jason Neely)
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By Julia Payne
LAUSANNE, March 21 (Reuters) - The recent fall in oil
prices due to banking jitters is speculative and oil will hit
$140 a barrel by the end of the year, hedge fund manager Pierre
Andurand of Andurand Capital said on Tuesday.
Still, electric vehicles will eventually sap gasoline demand
and cause oil demand growth to slow in the coming years,
Andurand told the FT Commodities Global Summit in Lausanne,
Switzerland.
Demand will peak around 2030, he said, adding: "Even when we
peak, oil demand won't fall down so fast. We will reach peak
demand towards 110 million barrels per day and then a slow
decline from there."
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