OPEC is back in the business of influencing oil prices as Saudi Arabia works with Russia and Iran to limit output, and only "a brave person" would bet against this, oil bull Andy Hall said in his latest investor letter.
The hedge fund manager is up nearly 18 percent for the year at his USD 2.5 billion Astenbeck Capital Management in Southport, Connecticut, after his fund rose 6 percent in September as oil rallied. With the Organization of the Petroleum Exporting Countries now looking to limit output for the first time since 2008, the cartel can no longer be ignored, he said in Astenbeck's October investor letter, seen by Reuters on Friday.
