The price of oil will probably rise to $50 a barrel this year and $70 a barrel in 2017, though investors should expect heightened volatility along the way, he added.
"We are in a world where we see very low prices followed by very high prices," Andurand said in the interview. "I actually think it has bottomed."
The oil trader was the one who correctly predicted the previous slump in oil prices. His hedge fund made 8 percent in 2015 and 38 percent in 2014, chiefly on wagers that oil would fall. As recently as December, he predicted that oil could touch $25 a barrel this quarter.