Oscar 2014 Predictions: Best Actress - Is Cate Blanchett the Front-Runner?

This weekend Woody Allen's latest film "Blue Jasmine" will open in limited release.

The film, starring Cate Blanchett, tells the story of Jasmine who has a life crisis that causes her to head to San Francisco, where she reconnects with her sister.

The film is garnering rave reviews, but most of the praise has gone to Blanchett.

Blanchett's performance has obtained buzz for the past few months, and considering the outstanding reviews it seems like her performance will get nominated and could potentially win the Academy Award for best actress.

Todd McCarthy of the Hollywood Reporter said, "Cate Blanchett is neurotically golden in another memorable female character study from Woody Allen."

Rex Reed of the New York Observer called Blanchett "stupendous."

"Richly chronicled characters, sharp dialogue and that stupendous centerpiece performance by Cate Blanchett are contributing factors in the best summer movie of 2013 and one of the most memorable Woody Allen movies ever," wrote Reed.

Indiewire's Eric Kohn was similarly smitten by Blanchett. "Blue Jasmine belongs to Blanchett, who appears in almost every scene and frees it from the limitations of Allen's style, pushing it to far sharper results than any of the more traditional movies, good and bad, that he's churned out in the past dozen or so years," wrote Kohn.

Meanwhile Variety wrote, "Blanchett's performance is so dominant in terms of screentime and emotional impact that the film succeeds as not only a virtuoso ensemble piece, but also an unflinchingly intimate study of the character in the title."

Blanchett has already won an Oscar for her turn in 2004's "The Aviator." She was previously nominated for "Elizabeth," "Notes on a Scandal," "I'm Not There," and "Elizabeth: The Golden Age."

"Blue Jasmine" opens in six theaters and is rated PG-13 for mature thematic material, language and sexual content.