Prediction of crude oil (ARIMA model)

We are doing a prediction model of crude oil. just need a 600 words introduction .

Why we predict crude oil price (why crude oil importatnt to the word)?
reasons crude oil price up recently

Here is some example of writing. we are using ARIMA model. so just do the introduction of crude oil. If u know about ARIMA u can do more

Oil is a fossil fuel and is one of the most important energy sources worldwide. Oil can be used not only as a fuel but also in the production of raw materials. Therefore its price is relevant to all of our lives. The economic development of developing countries depends heavily on oil… Due to their high expansion potential and high growth expansion and high growth potential, their import bill is mainly driven by crude oil. Any increase in prices directly affects these sectors… The increase in crude oil prices has exacerbated cost-driven inflation
The Arima model (also known as Autoregressive Integrated Moving Average mode) is a model that is widely used in time series analysis. It is a statistical model widely used for time series analysis and forecasting. It combines three methods of autoregressive (AR), differential (I) and moving average (MA) to make a forecast on the data. In order to better investigate the accuracy of this model for oil price forecasting, we use both static and dynamic forecasting technique. We found that the static forecasting of the arima model is more accurate for oil prices.

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