Global crude oil prices have continued to experience significant fluctuations in recent months, triggered by various geopolitical and economic factors. Since mid-2023, the prices of Brent and West Texas Intermediate (WTI) crude oil have shown an upward trend, indicating tension in the energy market. In early November 2023, Brent oil prices were trading around $88 per barrel, while WTI was around $85 per barrel. One of the main factors influencing oil prices is OPEC+’s decision to reduce production. Through a meeting held in September, OPEC+ member countries agreed to cut daily production by 1 million barrels per day, aiming to stabilize prices amid falling demand in several key markets. This policy caused concern among buyers, prompting a spike in prices on commodity exchanges. Political uncertainty in oil-producing countries also worsens the situation. For example, rising tensions in the Middle East and instability in Venezuela are impacting global supply. Demand from China and India, the world’s two largest oil consumers, is a major concern. With the reopening of its economy post-pandemic, China is showing a significant increase in consumption, which is fueling higher oil demand. On the other hand, India is also listed as one of the countries with demand that continues to increase along with its economic growth. According to the latest report, China recorded crude oil imports reaching 10 million barrels per day, increasing pressure on global supplies. Inflation and monetary policy in oil importing countries also influence prices. In the US, the Federal Reserve continues to increase interest rates to tackle inflation, which in turn can affect consumer purchasing power. A stronger US dollar also impacts oil prices, which are usually priced in that currency. Global economic uncertainty could result in reduced demand in the future, so investors should remain vigilant. Environmental aspects and renewable energy are also related to oil price dynamics. Governments in various countries are starting to turn their attention to clean energy sources, which can reduce dependence on oil. This policy, although long-term, will affect oil demand expectations in the medium to long term. Given all these factors, global crude oil price projections remain uncertain. Investment strategies in the energy sector must consider geopolitical and economic risks, which can change market direction. Along with developments in the latest news and conditions, market players are expected to be able to adapt quickly to the changes that occur.