World Market Price of Oil Impacting Factors and Forecasting

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

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Adalat Muradov Yadulla Hasanli Nazim Hajiyev

World Market Price of Oil Impacting Factors and Forecasting

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SpringerBriefs in Economics

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Adalat Muradov • Yadulla Hasanli Nazim Hajiyev

World Market Price of Oil Impacting Factors and Forecasting

Adalat Muradov Azerbaijan State University of Economics Baku, Azerbaijan

Yadulla Hasanli Azerbaijan State University of Economics Baku, Azerbaijan

Nazim Hajiyev Azerbaijan State University of Economics Baku, Azerbaijan Harvard University Cambridge, MA, USA

ISSN 2191-5504     ISSN 2191-5512 (electronic) SpringerBriefs in Economics ISBN 978-3-030-11493-0    ISBN 978-3-030-11494-7 (eBook) https://doi.org/10.1007/978-3-030-11494-7 Library of Congress Control Number: 2019932991 © The Author(s), under exclusive licence to Springer Nature Switzerland AG 2019 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors, and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have