World oil prices continue to be in the spotlight among investors and consumers. Recent news shows significant fluctuations caused by various geopolitical factors, global economics and changes in demand. In October 2023, the price of Brent crude oil will be around $90 per barrel, registering an increase of almost 15% in the past month. The main causes of this surge include political tensions in the Middle East and production cuts by OPEC+. A succession of tensions in the Middle East region, particularly in Iran and Iraq, resulted in concerns about supply disruptions. The US government also issued new sanctions that could worsen the situation, triggering a spike in oil prices. In addition, oil-producing countries such as Saudi Arabia and Russia have actively reduced production to stabilize the market. OPEC+ decided to maintain its production cut policy, which appears to have a direct effect on prices on the global market. Another aspect of concern is the impact of inflation. Rising energy prices contribute to global inflation, which causes Central Banks in various countries to tighten monetary policy. This decision creates uncertainty in the stock market and can change energy consumption patterns. Oil demand has also been impacted by the shift towards renewable energy. Although this shift is slow, many countries are increasingly investing in green technologies in response to the energy crisis and climate change. Investors and energy analysts are monitoring this trend closely, as it can determine future oil price dynamics. On the other hand, the latest report from the International Energy Agency (IEA) shows that oil demand is expected to increase in 2024 due to post-pandemic economic recovery. Increasing transportation and industrial needs contribute to this projection. However, there are also concerns regarding a global recession which could affect overall energy consumption. According to the latest guidance, oil prices remain potentially volatile in the short term. Investors in the energy sector are advised to remain alert to international news and policy decisions by OPEC+, which may affect global supply and demand. Looking ahead, the oil market will continue to witness major influence from external factors leading to price uncertainty. With global economic and supply security concerns rising, all eyes are now on the upcoming OPEC meeting. Market analysis suggests that the response to geopolitical tensions will largely determine the direction of oil prices in the near term. Unprecedented tightening of supply is responding to surging demand, while market players must account for the long-term impacts of the shift towards clean energy and climate policy.