Brent Oil's forecasting using chaos theory
Στάμου, Σπυρίδων Δ.
SubjectΠετρέλαιο -- Βιομηχανία και εμπόριο -- Στατιστική ανάλυση ; Petroleum products -- Prices ; Οικονομικές προβλέψεις ; Χαοτική συμπεριφορά στα συστήματα
Since the exploration of the first liter of oil, this has been ruling the world. All the industries depend on oil even with direct or indirect way. Producers and consumers with daily contracts, which worth billions of dollars define the price of oil per barrel after strong and long negotiations. The price of oil defines inflations in countries and as a result the growth rates of them. As a conclusion, oil means power even politically or financial to the people have it. So the prediction of its price is very essential for oil’s counterparties. This thesis aims to predict the price of the Brent Oil’s future contract price.