The role of financial statements in predicting the changes of prices and production cost of oil
The role of financial statements in predicting the changes of prices and production cost of oil

Summary/Abstract: Oil is considered a strategic commodity for the countries of OPEC – based on it determined the direction of economic and financial development. It is the most important source used by the country to implement its policy and economic programs. This study focused on accurately predicting future prices of OPEC’s oil drum and suggest suitable planning to avoid any economic financial due to oscillating oil prices. Also, is the financial statement have a role in increasing predict accuracy for oscillating oil’s prices. To achieve research goals and exam research hypothesis monitored oil price monthly for fifteen years from (1/1/2003-1/6/2020). The results data have two types of time series, therefore, analyzed by using MATLAB software. The results have linear and non-linear data; therefore, it needs software or more for processing to predict oil prices in the future. Linear data can be processed using one statistics model, ARIMA (2,2,1), to predict future oil prices. Many suggestions are introduced, among them must using a set of programs to process data of financial statements.

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