Using time series to analyze global oil demand trends

Abstract

Oil has emerged on the global scene as an essential source of energy and a strategic material for industry. This has influenced the increasing global demand for crude oil over the past decades and is expected to increase in the coming decades.
Researchers have used the time series method to determine global demand trends, sources, and growth rates using different mathematical formulas, testing them, choosing the best ones, and preparing projections and forecasts of the phenomenon of global oil demand for the next decade.
The issue of demand for crude oil concerns the countries consuming and producing it, considering it a cost to the consuming countries and a return to the countries producing it as a source of funding for their government budgets.