Title :
Structural Model for Oil Price: Explanation of the Skyrocket from 2003
Author_Institution :
Sch. of Manage., Fudan Univ., Shanghai
Abstract :
In this paper, we set up a structural model to explain the recent trend of oil price, and find out that the supply (demand) over 80 million barrels per day is the main reason for this skyrocket. Finally, we predict the future price using Monte Carlo simulation.
Keywords :
petroleum industry; pricing; supply and demand; Monte Carlo simulation; oil price skyrocket; structural model; supply and demand; Acceleration; Asia; Economic indicators; Industrial economics; Macroeconomics; Manufacturing industries; Petroleum; Power generation economics; Production; Statistics;
Conference_Titel :
Wireless Communications, Networking and Mobile Computing, 2008. WiCOM '08. 4th International Conference on
Conference_Location :
Dalian
Print_ISBN :
978-1-4244-2107-7
Electronic_ISBN :
978-1-4244-2108-4
DOI :
10.1109/WiCom.2008.2260
