World Energy

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Oil Predictions - Elastic Model

These figures are reflecting the ElasticNet machine learning model for oil production and consumption. See below for statistical results.

Oil Production	Oil Consumption
Historic MSE = 0.0832	Historic MSE = 0.0661
Historic R-Square = 0.9169	Historic R-Square = 0.9339
Future MSE = 0.8112	Future MSE = 0.0.8044
Future R-Square = 0.1888	Future R-Square = 0.1956