International Journal Of Imaging

Abstract

PREDICATION OF CRUDE OIL PRICES USING SVR WITH GRID SEARCH CROSS VALIDATION ALGORITHM

Author: Dr.Adelina Johnsana, Dubba Pranay, J.karthik Chary, Talari Harathi, Nikhil Kumar Bellamkonda

Abstract:

Crude oil is the world's leading fuel, and its prices have a big impact on the global environment, economy as well as oil exploration and exploitation activities. Oil price forecasts are very useful to industries, governments and individuals. Although many methods have been developed for predicting oil prices, it remains one of the most challenging forecasting problems due to the high volatility of oil prices forecasting models that predict future events are used in numerous fields such as economics and science because they are useful tools in decision making. A perfect forecast provides insight into the implications of an action or inaction and serves as a metric to judge one’s ability to influence future events, The world's environment is affected by the oil price falling. With the drop of oil prices, the fuel bills are lowered. As a result, consumers are very likely to use more oil and thus increase the carbon emission. In addition, there is less incentive to develop renewa