Current world oil price trends are strongly influenced by various factors, including geopolitics, global economics, and energy policy. In 2023, oil prices experience significant volatility, mainly due to conflict in the Middle East region and a post-pandemic revival in demand. The forecast for 2024 suggests a possible upward price trend, driven by several key elements. First, the ongoing global economic recovery is expected to drive energy demand higher. Large countries such as China and India are showing signs of strong growth, following the trend of higher energy consumption. This meeting of demand could suppress supply, triggering a spike in world oil prices. Second, OPEC+ policies and their decisions regarding production cuts will also have a significant influence. If OPEC+ maintains or even deepens their production cuts, oil prices could continue to rise. For example, in 2023, an agreement to reduce oil production has led to a steady rise in prices, and this trend is likely to continue if a similar decision is taken in 2024. In addition, innovations in energy technology and the transition to renewable energy are also influencing oil market dynamics. Many countries are pursuing green energy policies, which may reduce dependence on fossil fuels in the future. Although in the short term oil demand is predicted to remain strong, in the long term, these changes could create uncertainty for oil prices. Meanwhile, potential geopolitical crises in some oil-producing countries, such as Russia and Iran, could cause supply disruptions that could shift prices quickly. International tensions or new sanctions could worsen the situation, putting pressure on global markets. Furthermore, exchange rate fluctuations and inflation also play an important role. A stronger US dollar will usually have a negative impact on oil prices, while high inflation can cause production costs to increase, potentially causing oil prices to increase as well. Based on the analysis of various economic indicators, it is estimated that world oil price trends will return to normal in 2024. Crude oil prices are predicted to be in the range of $80 to $100 per barrel, depending on the influence of OPEC+ policies, demand dynamics from major countries, and geopolitical stability. Analysts also advised investors to remain alert to these fundamental changes, which could impact energy markets globally.