The complexity of the world oil market has increased dramatically in recent years and new approaches are needed to understand, model, and forecast oil prices today. Many models have been explored and most of the papers and modeling projects referenced in this paper identify their own...

This paper develops a rigorous and advanced computational model to describe, analyze, and forecast global crude oil demand. The paper deploys a hybrid approach of artificial intelligence techniques: artificial neural network and genetic algorithms, to devise a methodological framework for...

Prediction of oil production decline rates is a vital task for oil fields development strategies, upstream investment opportunities, future production plans, and global oil market balance. The strategic question to be addressed in the oil market analysis is, how much new oil production capacity...

The beginning of the new century was marked with another petroleum boom and bust cycle. The rapid increase in the oil price and its sudden and dramatic decline raises a fundamental question about the oil industry: Why is it so difficult to accurately predict the price of oil? Supply-demand...

During the 1970s, oil market models offered a framework for understanding the growing market power being exercised by major oil producing countries. Few such models have been developed in recent years. Moreover, most large institutions do not use models directly for explaining recent oil price...

Deemed as the “world’s most important chokepoint” for oil and international shipping, the Strait of Hormuz is the main thoroughfare to and from the Arabian/Persian Gulf. A disruption in shipping through the Strait of Hormuz would have severe consequences for the world economy. Without...

This paper provides an assessment and a review of the national oil companies' (NOCs) business models, challenges and opportunities, their strategies and emerging trends. The role of the national oil company continues to evolve as the global energy landscape changes to reflect variations in...

This paper provides a review of the evolving role and characteristics of the oil and gas companies, which increasingly come in a variety of flavors. It also surveys the different types of oil and gas companies that include national oil companies (NOCs), international oil companies (IOCs),...

The complexity of the world oil market has increased dramatically in recent years and new approaches are needed to understand, model, and forecast oil prices today. In addition to the commencement of the financialization era in oil markets, there have been structural changes in the global oil...