What are the factors that affect oil prices?

There are many factors that affect oil prices, including but not limited to the following aspects:

-Supply and demand: changes in oil supply and demand will affect oil prices.

-Production cost: The cost of oil production will also affect oil prices.

-Geopolitical factors: geopolitical tensions will push up oil prices.

-Monetary policy: Changes in monetary policy will also affect oil prices.

-Weather factors: Bad weather will affect the production and transportation of oil, thus affecting the price of oil.