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This project analyzes Brent oil prices from 1987-2022, detecting structural changes and associating them with major events to provide data-driven insights for the energy industry.

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Daniel-Andarge/AiML-brent-oil-price-analysis

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Time Series Analysis of Brent Oil Prices: Detecting Changes and Associating Causes

This project analyzes Brent oil prices from 1987-2022, detecting structural changes and associating them with major events to provide data-driven insights for the energy industry.

Table of Contents

  1. Exploratory Data Analysis EDA
  2. Statistical and Econometric Models to Refine the Analysis
  3. Other Potential Factors Influencing Oil Prices
  4. Contributing
  5. License

Exploratory Data Analysis (EDA)

Statistical and Econometric Models to Refine the Analysis

ARIMA model to the Brent oil prices data

ARIMAplot

LSTM (Long Short-Term Memory) Model

The training and validation loss plot ltsm plot

The Actual vs Predicted prices plot ltsm plot

Other Potential Factors Influencing Oil Price

Correlation between GDP growth rates of major economies and oil prices

correlation plot

Brent oil prices and GDP growth rates over time correlation plot

Correlation between Unemployment rates & Oil consumption patterns

Filtering the data points after 2012 and analyzing the correlation correlation plot

correlation plot

Analyzing the Effect of currency fluctuations (the USD) , on oil prices

correlation plot

correlation plot

Analyzing growth in renewable energy sources on oil demand and prices.

correlation plot

correlation plot

Contributing

Contributions are welcome! Please fork the repository and submit a pull request.

License

This project is licensed under the MIT License. See the LICENSE file for details.

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This project analyzes Brent oil prices from 1987-2022, detecting structural changes and associating them with major events to provide data-driven insights for the energy industry.

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