International Journal of Mathematical, Engineering and Management Sciences

ISSN: 2455-7749

Sugeno Intuitionistic Fuzzy Generator Based Computational Technique for Crude Oil Price Forecasting

Sugeno Intuitionistic Fuzzy Generator Based Computational Technique for Crude Oil Price Forecasting

Gunjan Goyal
Department of Mathematics, Jaypee Institute of Information Technology, Noida, India.

Dinesh C. S. Bisht
Department of Mathematics, Jaypee Institute of Information Technology, Noida, India.

DOI https://doi.org/10.33889/IJMEMS.2020.5.3.040

Received on November 30, 2019
Accepted on February 18, 2020


Crude oil being a significant source of energy, change of crude oil price can affect the global economy. In this paper, a new approach based on the intuitionistic fuzzy set theory has been implemented to predict the crude oil price. This paper presents the intuitionistic fuzzy time series forecasting algorithm to enhance the efficacy of time series forecasting which includes fuzzy c-means clustering to obtain the optimal cluster centers. Further, a computational technique is proposed for the construction of triangular fuzzy sets and these fuzzy sets are converted to intuitionistic fuzzy sets with the help of Sugeno type intuitionistic fuzzy generator. The popular benchmark dataset of West Texas Intermediate crude oil spot price is used for the validation process. The numerical results when compared with existing methods notify that the proposed method enhances the accuracy of the crude oil price forecasts.

Keywords- Intuitionistic fuzzy set, Sugeno type complement function, Fuzzy c-means clustering, Crude oil price forecasting, Fuzzy time series.


Goyal, G., & Bisht, D. C. S. (2020). Sugeno Intuitionistic Fuzzy Generator Based Computational Technique for Crude Oil Price Forecasting. International Journal of Mathematical, Engineering and Management Sciences, 5(3), 488-496. https://doi.org/10.33889/IJMEMS.2020.5.3.040.

Conflict of Interest

The authors declare that there is no conflict of interest regarding the publication of this work.


The authors are grateful to the editor and reviewers for their helpful suggestions.


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