Daqing Crude Oil Price Forecast Based on the ARIMA Model

Li Quan
2015 Open Petroleum Engineering Journal  
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
more » ... a prediction of oil price is made using the data from the first 10 months of 2011.
doi:10.2174/1874834101508010457 fatcat:dlvhzy7byjddpgbiyel666nfge