A review of crude oil prices forecasting using hybrid method
Crude oil is considered as a crucial energy source in modern days. Consequently, the fluctuation of crude oil prices can cause a significant impact on economic activities. Researchers have proposed many hybrid forecasting models on top of single forecasting methods which are utilized to predict crud...
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| Format: | Article |
| Language: | English |
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Institute of Advanced Engineering and Science
2018
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| Online Access: | http://eprints.utm.my/86300/1/NurullQurraisyaNadiyya2018_AReviewofCrudeOilPricesForecasting.pdf |
| _version_ | 1796864215999315968 |
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| author | Md. Khaira, Nurull Qurraisya Nadiyya Samsudina, Ruhaidah Shabrib, Ani |
| author_facet | Md. Khaira, Nurull Qurraisya Nadiyya Samsudina, Ruhaidah Shabrib, Ani |
| author_sort | Md. Khaira, Nurull Qurraisya Nadiyya |
| collection | ePrints |
| description | Crude oil is considered as a crucial energy source in modern days. Consequently, the fluctuation of crude oil prices can cause a significant impact on economic activities. Researchers have proposed many hybrid forecasting models on top of single forecasting methods which are utilized to predict crude oil prices movement more accurately. Nevertheless, many limitations still existed in hybrid forecasting models and models that can predict crude oil prices as accurate as possible is required. The motivations of this review paper are to identify and assess the mostly used crude oil prices forecasting methods and to analyse their current limitations. 12 studies that used “decomposition-and-ensemble” framework was selected for review. Wavelet transform is identified as the mostly used data decomposition method while some limitations have been recognized. Future researches should include more studies to further elucidate the limitations in existing forecasting method so that subsequent forecasting methods can be improved. |
| first_indexed | 2024-03-05T20:38:32Z |
| format | Article |
| id | utm.eprints-86300 |
| institution | Universiti Teknologi Malaysia - ePrints |
| language | English |
| last_indexed | 2024-03-05T20:38:32Z |
| publishDate | 2018 |
| publisher | Institute of Advanced Engineering and Science |
| record_format | dspace |
| spelling | utm.eprints-863002020-08-31T13:57:34Z http://eprints.utm.my/86300/ A review of crude oil prices forecasting using hybrid method Md. Khaira, Nurull Qurraisya Nadiyya Samsudina, Ruhaidah Shabrib, Ani QA76 Computer software Crude oil is considered as a crucial energy source in modern days. Consequently, the fluctuation of crude oil prices can cause a significant impact on economic activities. Researchers have proposed many hybrid forecasting models on top of single forecasting methods which are utilized to predict crude oil prices movement more accurately. Nevertheless, many limitations still existed in hybrid forecasting models and models that can predict crude oil prices as accurate as possible is required. The motivations of this review paper are to identify and assess the mostly used crude oil prices forecasting methods and to analyse their current limitations. 12 studies that used “decomposition-and-ensemble” framework was selected for review. Wavelet transform is identified as the mostly used data decomposition method while some limitations have been recognized. Future researches should include more studies to further elucidate the limitations in existing forecasting method so that subsequent forecasting methods can be improved. Institute of Advanced Engineering and Science 2018-09 Article PeerReviewed application/pdf en http://eprints.utm.my/86300/1/NurullQurraisyaNadiyya2018_AReviewofCrudeOilPricesForecasting.pdf Md. Khaira, Nurull Qurraisya Nadiyya and Samsudina, Ruhaidah and Shabrib, Ani (2018) A review of crude oil prices forecasting using hybrid method. Indonesian Journal of Electrical Engineering and Computer Science, 11 (3). pp. 1114-1120. ISSN 2502-4752 http://dx.doi.org/10.11591/ijeecs.v11.i3.pp1114-1120 DOI:10.11591/ijeecs.v11.i3.pp1114-1120 |
| spellingShingle | QA76 Computer software Md. Khaira, Nurull Qurraisya Nadiyya Samsudina, Ruhaidah Shabrib, Ani A review of crude oil prices forecasting using hybrid method |
| title | A review of crude oil prices forecasting using hybrid method |
| title_full | A review of crude oil prices forecasting using hybrid method |
| title_fullStr | A review of crude oil prices forecasting using hybrid method |
| title_full_unstemmed | A review of crude oil prices forecasting using hybrid method |
| title_short | A review of crude oil prices forecasting using hybrid method |
| title_sort | review of crude oil prices forecasting using hybrid method |
| topic | QA76 Computer software |
| url | http://eprints.utm.my/86300/1/NurullQurraisyaNadiyya2018_AReviewofCrudeOilPricesForecasting.pdf |
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