Abstract: In the field of global energy and environment, crude oil is an important strategic resource, and its price fluctuation has a far-reaching impact on the global economy, financial market and the process of low-carbon development. In recent years, with the gradual promotion of green energy transformation and low-carbon development in various countries, the dynamics of crude oil market have become more complicated and changeable. The price of crude oil is not only influenced by traditional factors such as supply and demand, geopolitical conflict and production technology, but also faces the challenges of energy policy transformation, carbon emission control and new energy technology development. This diversified driving factor makes the prediction of crude oil price not only very important in economic decision-making and energy planning, but also a key issue in financial markets.In this paper, the spot price data of European Brent crude oil provided by us energy information administration are selected, and a deep learning model with three layers of LSTM units is constructed to predict the crude oil price in the next few days. The results show that the LSTM model performs well in capturing the overall price trend, although there is some deviation during the period of sharp price fluctuation. The research in this paper not only verifies the applicability of LSTM model in energy market forecasting, but also provides data support for policy makers and investors when facing the uncertainty of crude oil price.

This course will give an overview of all the topics we shall be looking at in this course. We shall begin by describing the oil value chain – the exploration and development, how oil is produced, shipped, and marketed. Moving further, we will learn about the importance of oil in the industry, both as a fuel and as a raw material in various forms in the global economy. Then, we will go through a brief history of oil – how it all began, and the different'kinds' of oil discoverers. We will be introduced to the major players in the oil market – the top producers and the major consumers. We will then see how oil is formed, how it sits deep within the earth and how we discover and refine it. We will learn about the different types of oils, and the methods employed to extract them. This will be followed by a brief overview of the different means of transporting oil, and the risks and benefits associated with the different methods of oil transport. Lastly, we shall look into the different oil benchmarks that prevail globally.