Research Article
A Crude Oil Spot Price Forecasting Method Incorporating Quadratic Decomposition and Residual Forecasting
Table 11
Comparative results with existing advanced crude oil forecasting models.
| | Model | Literature [35] | Proposed model | Literature [36] | Proposed model |
| | MAE | 4.69 | 0.4304 | — | — | | RMSE | 5.68 | 0.4313 | 0.0311 | 0.0306 | | MAPE | 8.31 | 0.4639 | 5.44 | 0.027 |
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Bold values indicate that the results of the evaluation metrics of the model proposed in this study are better than those of the comparison model.
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