World market price of oil : impacting factors and forecasting / by Adalat Muradov, Yadulla Hasanli, Nazim Hajiyev.

Format:

Book

Author/Creator:

Muradov, Adalat, author.

Hasanli, Yadulla, 1959- author.

Hajiyev, Nazim, author.

Series:

SpringerBriefs in economics

SpringerBriefs in Economics, 2191-5504

Language:

English

Subjects (All):

Petroleum products--Prices--Forecasting.

Petroleum products.

Petroleum industry and trade--Forecasting.

Petroleum industry and trade.

Box-Jenkins forecasting.

Petroleum products--Prices.

Physical Description:

xvi, 184 pages ; 24 cm.

Place of Publication:

Cham, Switzerland : Springer Nature Switzerland, [2019]

Summary:

This book develops new econometric models to analyze and forecast the world market price of oil. The authors construct ARIMA and Trend models to forecast oil prices, taking into consideration outside factors such as political turmoil and solar activity on the price of oil. Incorporating historical and contemporary market trends, the authors are able to make medium and long-term forecasting results. In the first chapter, the authors perform a broad spectrum analysis of the theoretical and methodological challenges of oil price forecasting. In the second chapter, the authors build and test the econometric models needed for the forecasts. The final chapter of the text brings together the conclusions they reached through applying the models to their research. This book will be useful to students in economics, particularly those in upper-level courses on forecasting and econometrics as well as to politicians and policy makers in oil-producing countries, oil importing countries, and relevant international organizations.

Notes:

Includes bibliographical references (pages 183-184).

ISBN:

3030114937

9783030114930

OCLC:

1078880073