Intelligent prediction of crude oil price using Support Vector Machines

Adnan Khashman, Nnamdi I. Nwulu

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

42 Citations (Scopus)

Abstract

The price of crude oil is tied to major economic activities in all nations of the world, as a change in the price of crude oil invariably affects the cost of other goods and services. This has made the prediction of crude oil price a top priority for researchers and scientists alike. In this paper we present an intelligent system that predicts the price of crude oil. This system is based on Support Vector Machines. Support Vector Machines are supervised learners founded upon the principle of statistical learning theory. Our system utilized as its input key economic indicators which affect the price of crude oil and has as its output the price of crude oil. Data for our system was obtained from the West Texas Intermediate (WTI) dataset spanning 24 years and experimental results obtained were very promising as it proved that support vector machines could be used with a high degree of accuracy in predicting crude oil price.

Original languageEnglish
Title of host publication9th IEEE International Symposium on Applied Machine Intelligence and Informatics, SAMI 2011 - Proceedings
Pages165-169
Number of pages5
DOIs
Publication statusPublished - 2011
Externally publishedYes
Event9th IEEE International Symposium on Applied Machine Intelligence and Informatics, SAMI 2011 - Smolenice, Slovakia
Duration: 27 Jan 201129 Jan 2011

Publication series

Name9th IEEE International Symposium on Applied Machine Intelligence and Informatics, SAMI 2011 - Proceedings

Conference

Conference9th IEEE International Symposium on Applied Machine Intelligence and Informatics, SAMI 2011
Country/TerritorySlovakia
CitySmolenice
Period27/01/1129/01/11

Keywords

  • Crude Oil
  • Price Prediction
  • Statistical Learning Theory
  • Support Vector Machines
  • West Texas Intermediate

ASJC Scopus subject areas

  • Artificial Intelligence
  • Information Systems

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