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World Market Price of Oil

Impacting Factors and Forecasting

  • Adalat Muradov
  • Yadulla Hasanli
  • Nazim Hajiyev
Book

Part of the SpringerBriefs in Economics book series (BRIEFSECONOMICS)

Table of contents

  1. Front Matter
    Pages i-xvi
  2. Adalat Muradov, Yadulla Hasanli, Nazim Hajiyev
    Pages 1-20
  3. Adalat Muradov, Yadulla Hasanli, Nazim Hajiyev
    Pages 21-40
  4. Adalat Muradov, Yadulla Hasanli, Nazim Hajiyev
    Pages 41-60
  5. Back Matter
    Pages 61-184

About this book

Introduction

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.

Keywords

oil oil futures forecasting ARIMA trend models solar activity econometrics

Authors and affiliations

  • Adalat Muradov
    • 1
  • Yadulla Hasanli
    • 2
  • Nazim Hajiyev
    • 3
  1. 1.Azerbaijan State University of EconomicsBakuAzerbaijan
  2. 2.Azerbaijan State University of EconomicsBakuAzerbaijan
  3. 3.Azerbaijan State University of EconomicsBakuAzerbaijan

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-030-11494-7
  • Copyright Information The Author(s), under exclusive license to Springer Nature Switzerland AG 2019
  • Publisher Name Springer, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-030-11493-0
  • Online ISBN 978-3-030-11494-7
  • Series Print ISSN 2191-5504
  • Series Online ISSN 2191-5512
  • Buy this book on publisher's site