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A general model of oil consumption is investigated in this study. This model should be applicable to different countries even with different characteristics. Conventional model that works very well for Malaysia is tested with seven developing Asian countries: China, India, Indonesia, Malaysia, Pakistan, Philippines, and Thailand. The results have shown that this model can not produce a good fit to...
This study investigates prediction of oil consumption in Malaysia. Models of oil consumption are developed and validated with respect to training and validation dataset. Available data for Malaysia is annual data from 1982 to 2006 comprises population, GDP per capita, and oil consumption data. Prediction time target is year 2020 which is commonly used by several energy outlook reports. Two models...
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