The goal of our project was to identify key economic indicators that have a significant influence on the price of oil per barrel. We identified five key indicators: Change in Inventory, OPEC Policy, GDP, Rig Count, Social/Environmental Factors. We used SPSS to build a linear multi-regression model between the dependent variable (price of oil) and the five indicators. We identified statistically significant variables and examined multiple scenarios in respective case of fluctuations in social/environmental factors and OPEC policy.

• This report represents the work of one or more WPI undergraduate students submitted to the faculty as evidence of completion of a degree requirement. WPI routinely publishes these reports on its website without editorial or peer review.

Creator

• Jasinski, Nicholaus D
• Terwilliger, Sarah Rose
• Rao, Akshay Satyanarayan

Publisher

• Worcester Polytechnic Institute

Identifier

• E-project-012517-131105

Advisor

• Sweeney, Kevin M.
• Zeng, Amy Z.
• Smith, Alexander D.

Year

• 2017

Sponsor

• Target Logistics

Date created

• 2017-01-25

Resource type

• Major Qualifying Project

Major

• Management Engineering
• Interdisciplinary
• Industrial Engineering

Rights statement

• In Copyright

Last modified

• 2020-12-27