The Open Petroleum Engineering Journal


ISSN: 1874-8341 ― Volume 12, 2019
Retracted Article

Daqing Crude Oil Price Forecast Based on the ARIMA Model

The Open Petroleum Engineering Journal , 2015, 8: 457-462

Li Quan

Department of Economics and Management, North China Electric Power University, Baoding, Hebei, 071000, P.R. China.

Electronic publication date 22/10/2015
[DOI: 10.2174/1874834101508010457]

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Oil is the lifeblood of the industrial economy, oil prices are affected by many factors. China is a major industrial country, changes in the price of oil will affect many aspects of economic development, and therefore the price of crude oil research is extremely important. In this paper, monthly average prices of crude oil in Daqing from January 2000 to December 2010 are utilized to do the research. Based on ARIMA model by building software using EVIEWS, rule of oil price movements is found and a prediction of oil price is made using the data from the first 10 months of 2011.

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