A Non-Statistical Approach to Predict Crude Oil Prices

Abstract

Oil is one of the important commodities that contribute highly to the advancement of human civilization. Predicting oil prices is one the challenging yet important thing that can affect the short and long term planning for countries as well as various sectors in industry. Most of the attempts to predict oil prices depend on the previous data analysis and evaluation with statistical approach. This paper proposes a non-statistical approach to predict oil prices.