New method predicts global crude oil price movements 3.5 months ahead.
The study created a new way to predict changes in global crude oil prices before they happen. By using a special method called the indicator approach, researchers were able to make a tool that can forecast oil price movements about 3.5 months in advance. This tool could help countries that rely on oil for their economy to plan better, as well as other industries that are affected by changes in oil prices.