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Elements of forecasting applied to crude oil prices.
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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ELEMENTS OF FORECASTING APPLIED TO CRUDE OIL PRICES Abstract The goal of our project is to study crude oil prices over the last 20 years and discover any tendencies the data follows. Crude oil prices are extremely volatile due to OPEC and the constant strife in the Middle East. It will be interesting to see how these conflicts effect prices around the world and how much lag there is between the incident and the respective change in price. We expect crude oil prices to be seasonal with a peak in winter and valley in summer. Also, we want to investigate if there are any trends such as prices rising towards the end of the week. Based on the spot prices of crude oil, we hope to find a decline in prices during economic recessions and a rise during periods of economic growth. In addition, we can compare the oil prices between Oklahoma...
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