Prediction

Fill-in-the-Blank:
The price of oil by the end of the 2024 calendar year will be $____ USD per barrel. (View Statement)

Value: 90.0

Extends: 289

Forecasts Extending This One: None

Justification

Written on April 29, 2024, 4:42 p.m.

Given the analysis of the geopolitical tensions, market dynamics, oil price movement, analyst expectations, and economic and consumption projections provided above, the forecast for the price of oil by the end of the 2024 calendar year remains at $90 USD per barrel. This forecast takes into account the reduction in immediate risk of escalation from Iran as indicated by sources, the resilience of the market against speculation of extended military conflicts, the recent slight decline in oil prices, and a balanced supply-demand outlook that doesn't indicate significant disruptions in the near future. Economic projections suggesting moderating global growth and a balanced demand outlook further support a stable oil market scenario without major price spikes. There's no new information provided in the last set of facts that would necessitate changing this forecast. Therefore, the filled-in statement is: The price of oil by the end of the 2024 calendar year will be $90 USD per barrel.