Crude Oil Prices Predictions in India Using Machine Learning based Hybrid Model

Crude oil is a crucial fuel and one of the world's most important resources, and its prices have a direct impact on the global economy, habitat, oil exploration, and other activities. Crude oil is an important factor in any economy in today's modern world. Pandemics have increased the volatility of oil prices in recent years, necessitating the development of a new intelligent method for predicting long-term pricing. The ANN and ANN-PSO algorithms are used to forecast crude oil prices in this research. The artificial neural network (ANN) can be an accurate and efficient prediction approach. This work implements two machine learning models namely ANN and a hybrid model ANN - PSO to predict the future crude oil price. The data used in this work is for the period from January 2019 to April 2022. Results obtained from the Particle Swarm Optimization Model (ANN-PSO) has been compared with the results obtained from the implementation of Artificial Neural Networks (ANN). The results of this study's experiments confirmed that the ANN-PSO model can accurately predict long-term crude oil prices. Furthermore, more precise forecasting will assist investors in earning more, resulting in considerable long-term profits and have a direct impact on the economy.