International Journal of Multidisciplinary: Applied Business and Education Research
Vol 2 No 2 (2021): International Journal of Multidisciplinary: Applied Business and Education Resear

Overview of the ARIMA Model Average Crude Oil Price Forecast and its Implications on the Indian Economy Post-Liberalization

Syed Mohammad Faisal (Unknown)



Article Info

Publish Date
12 Feb 2021

Abstract

The crude oil markets have seen unpredictability over petroleum markets' good and bad times worldwide in the past few years. Various facets of the natural energy industry discuss in this research paper. The effect of the Indian ecosystem in determining oil demand and supply is vital to understand price fluctuations. Researchers in this research paper concentrates on the ARIMA model and other regression models used in the post-1991 LPG reforms to determine crude petroleum values and their primary effect on the Indian ecosystem (GDP) through time-series data from 1991 to 2019. The ARIMA model is further evidence of the validation of datasets and the potential trend in the show of global oil rates. The uncouth oil historical values prophesy the potential movement from crude oil prices, and the recommended model-based fallouts are compelling and honest. Before applying the normality of data and unit-roots, the ARIMA model thoroughly checks at the level. If stationary is not detected, then unit-roots are suspended. The first step is to keep residuals static at the required level of significance to provide efficient forecasting using the ARIMA model used for this analysis.

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Journal Info

Abbrev

ijmaber

Publisher

Subject

Civil Engineering, Building, Construction & Architecture Computer Science & IT Economics, Econometrics & Finance Environmental Science Medicine & Pharmacology

Description

International Journal of Multidisciplinary: Applied Business and Education Research is a peer-reviewed in a monthly basis that publishes full-length papers. it is to enhance the dissemination of knowledge across the multidisciplinary community. We are particularly interested in papers relevant to ...