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Short-Term Fuzzy Forecasting of Brent Oil Prices

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dc.contributor.author Ismagilov I.
dc.contributor.author Khasanova S.
dc.date.accessioned 2018-09-18T20:28:33Z
dc.date.available 2018-09-18T20:28:33Z
dc.date.issued 2015
dc.identifier.issn 1911-2017
dc.identifier.uri https://dspace.kpfu.ru/xmlui/handle/net/140280
dc.description.abstract © 2015, Asian Social Science. All rights reserved. Oil prices movements is very important macroeconomic factor for decision making. The accuracy of results for different types of oil brands depends on models and algorithms. This paper evaluates the effectiveness of using fuzzy sets to forecast daily Brent oil prices. It also contains possible modifications of the proposed method and in comparison with basic methods. The results suggest that Brent oil prices series have short memory because using information about last 2-days prices shows better forecast accuracy. Forecasting based on fixed universe of discourse shows better efficiency and it also proves that oil prices series has short memory. Adding the probability of switching between linguistic terms in defuzzification function could be used to improve accuracy of predictions. Also the approach can take into consideration expert’s opinion about direction of future variation. The effective expert’s work can reduce errors of forecast from 1.5% till 0.76%. But this modification can be used if experts correctly guess the direction of the change in trend in eight out of ten cases and more. The reasonable obtained results can be used by analysts dealing with the prediction of oil prices.
dc.relation.ispartofseries Asian Social Science
dc.subject Brent
dc.subject Expert’s opinion
dc.subject Forecast
dc.subject Fuzzy logic
dc.subject Fuzzy sets
dc.subject Petroleum prices
dc.subject Prediction
dc.subject Soft computing
dc.subject Stock market
dc.subject Time series
dc.title Short-Term Fuzzy Forecasting of Brent Oil Prices
dc.type Article
dc.relation.ispartofseries-issue 11
dc.relation.ispartofseries-volume 11
dc.collection Публикации сотрудников КФУ
dc.relation.startpage 60
dc.source.id SCOPUS19112017-2015-11-11-SID84929311454


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  • Публикации сотрудников КФУ Scopus [24551]
    Коллекция содержит публикации сотрудников Казанского федерального (до 2010 года Казанского государственного) университета, проиндексированные в БД Scopus, начиная с 1970г.

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