Based on the information provided from the various sources, here are the critical bullet points to inform the forecasting: 1. **Top US banks forecast a median Brent price of $85 for 2024**, with Goldman Sachs adjusting its forecast to a range of $70-$90 per barrel, and Citigroup predicting an average price of $75, considering slower demand growth and higher US output. 2. **Supply and Demand Balance**: The global oil market is expected to be relatively balanced, with OPEC+ production restraint keeping prices near current levels. OPEC+ is forecasted to produce less than its pre-pandemic average, contributing to minimal price changes. 3. **Non-OPEC+ Production Growth**: There will be growth in oil production from non-OPEC+ countries, albeit at a slower rate than previous years, driven mainly by a slowdown in U.S. production growth. However, start-up projects in Guyana, Brazil, Norway, and Canada are expected to contribute to non-OPEC+ production growth. 4. **Global Petroleum Consumption**: Demand for petroleum is projected to grow slightly below the 10-year pre-pandemic average, with increased adoption of electric vehicles and hybrids expected to displace some motor gasoline consumption. 5. **Geopolitical Uncertainty**: Geopolitical factors, such as tensions in the Middle East and the effects of OPEC+'s production cuts, could impact oil prices, but the consensus is that without a major geopolitical flashpoint, significant spikes above forecasts are unlikely. 6. **Global Economy Impact**: The global economic outlook, including the potential for recessions in major economies and a deepening economic slowdown, suggests that oil prices in 2024 could have more downside potential than upside, with prices expected to remain range-bound or trend downwards compared to 2023. Based on these points, the logical approach to forecasting oil prices for the end of the 2024 calendar year involves considering both the supply constraints due to OPEC+ production cuts and the potential dampening impact of global economic headwinds on demand. Furthermore, with non-OPEC+ producers expected to add to the global supply, any potential increase in prices due to production cuts could be offset by these increments in supply. The balance between these factors, alongside geopolitical uncertainties that can swing prices in either direction, needs to be carefully weighed. Given the forecasted global economic slowdown, which typically reduces demand for oil, and the expectation of continued but slower growth in non-OPEC+ production, it seems reasonable to skew forecasts towards a more moderate increase in oil prices, with significant spikes being less likely unless there's a major geopolitical event. Fluctuations within the forecasted ranges provided by analyst projections indicate inherent market uncertainties but also offer a bounded prediction space. Considering these analyses and the evolving dynamics in global oil markets and geopolitics, a careful forecast would place Brent crude oil prices by the end of the 2024 calendar year around the upper-middle of the forecasted range by major analysts while maintaining vigilance for any geopolitical or economic developments that could sway the market significantly. **Forecast**: The price of oil by the end of the 2024 calendar year will be $85 USD per barrel.