Title : ( Considering Influential Factors on Oil Price Using a Step-Wise Regression Model )
Authors: Fatemeh Hajisami , Mohammod Hossin Mahdavi Adeli , Narges Salehnia ,
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Abstract
In today’s world, all activities are rather influenced by use of fossil fuels especially crude oil. Therefore, oil as the most important source of energy supply possesses a particular position in economic performance so getting informed about trend of oil price and gaining a proper framework in planning and policy making depends on the recognition of effective factors on trend of crude oil prices. This research examines the effect of different variable like unconventional gas and oil supply, oil global demand, price of NYMEX exchange trading oil and Texas oil supply on WTI oil price under a stepwise regression model during 2006-2016. Results show that supplying unconventional oil and gas over the studying time period does not have any effect on the crude oil prices, whereas oil global demand, Texas oil supply and price of NYMEX exchange trading oil with the highest influence, will affect the oil prices. In conclusion, it is suggested to traders and policy makers that, one of the major influential factors on oil prices, will be the paper and financial markets.
Keywords
, oil price, unconventional resource, exchange market, step-wise regression.
@inproceedings{paperid:1064195,
author = {Hajisami, Fatemeh and Mahdavi Adeli, Mohammod Hossin and Salehnia, Narges},
title = {Considering Influential Factors on Oil Price Using a Step-Wise Regression Model},
booktitle = {International conference on Research and Development in Humanities, Management and Economics},
year = {2017},
location = {Vienna},
keywords = {oil price; unconventional resource; exchange market; step-wise regression.},
}
%0 Conference Proceedings
%T Considering Influential Factors on Oil Price Using a Step-Wise Regression Model
%A Hajisami, Fatemeh
%A Mahdavi Adeli, Mohammod Hossin
%A Salehnia, Narges
%J International conference on Research and Development in Humanities, Management and Economics
%D 2017
