A prediction of oil demand in Malaysia using time series modeling approach

Abstract

Energy planning and preparation is important to ensure stability in economy and security of a nation. It depends on the accurate prediction of future demand of energy. This paper presents prediction of oil demand as one of the energy sources used in Malaysia. Mathematical model is developed from historical data to approximate the function of oil consumption. The model is approximated through nonlinear time series modeling approach. Several models of oil demand in time series polynomial equations with different order are presented and compared. These models are then be used to predict future oil demand in Malaysia until year 2020.