The oil Brent, a reference in Europe, has added its second consecutive year with price drops in 2024after closing the course at around 74.8 dollars, which represents a decrease of 2.9% from the 77.04 dollars per barrel that it reached at the end of 2023. However, this fall has been less than the experienced in 2023, when 10% was left. For its part, WTI crude oil has had a calmer year, despite the volatility it has faced due, mainly, to the different geopolitical conflicts of today. The US benchmark oil has ended 2024 in the same place where it started: around $71.7 per barrel. Looking to the future, Ipek Ozkardeskayasenior analyst at Swissquote Bank, points out that «the expectation of an average excess supply of 1mbpd next year and China's inability to reverse weakness will likely limit upside potential«. For his part, David Morrisonsenior market analyst at FCA, points out that, in the final stages of 2024, «crude received a boost after The World Bank will improve its forecasts for China's economic growth both this year and 2025«. However, he adds, «the organization included a warning that Lack of trust between households and businesses would continue to provide headwindsas are the pessimistic outlook for the country's crucial real estate sector.» For Antonio Di Giacomosenior market analyst at XS.com, «reduced US supply and expectations of stronger global demand have created a favorable environment for the recovery of the crude oil price«. «However, it is essential to monitor the Possible changes to OPEC+ production policies and global economic dataas they could influence price movements in the coming weeks,» he concludes.