Forecasting Uncertain Factors in Managerial Decision-Making in the Upstream Oil Sector: by the Example of International Companies in Russia

Student: Kabina Aleksandra

Supervisor: Alexandra Zhukova

Faculty: Faculty of World Economy and International Affairs

Educational Programme: International Business (Master)

Year of Graduation: 2017

The oil sector plays a major role and has high contribution to economic prosperity for both oil-exporting and oil-importing countries. The strategic decision-making process is referred to as the most sophisticated and vital of all the processes in any oil company. For the businesses and economy accurate forecasting is crucial, as the everyday managerial decisions made by each company rely on macroeconomic forecasts. The purpose of this study is to identify a range of fundamental indicators that managers of the oil companies should take into account while forecasting to make a managerial decision. The study of uncertain factors while making a forecast is relevant and its findings might have high practical applicability, especially for oil firms, market analysts, economists and corporate strategists.

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