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International Journal of New Developments in Engineering and Society, 2017, 1(3); doi: 10.25236/IJNDES.17325.

Research on International Crude Oil Price Forecasting Model


Hengyu Lyu, Yuwen Chang

Corresponding Author:
Hengyu Lyu

PetroChina Research Institute of Petroleum Exploration & Development, Beijing 100083, P. R. China


The international crude oil price has the important economic significance and the political significance, the crude oil price forecast research has the far-reaching significance. There are many influencing factors of international crude oil prices. In this paper, we select the main influencing factors as predictors, and use Matlab programming method combined with BP (Back Propagation) neural network modeling to predict the WTI international oil price finally. In addition, the use of Eviews9.0, the establishment of ARIMA (Autoregressive Integrated Moving Average Model), the same forecast WTI oil prices. The two forecasting methods have the same forecasting trend and have some guidance and guidance on the international crude oil price forecasting research.


WTI Oil Price; Trendency Prediction; BP model; ARIMA model

Cite This Paper

Hengyu Lyu,Yuwen Chang.Research on International Crude Oil Price Forecasting Model.  International Journal of New Developments in Engineering and Society (2017) Vol.1, Num.3: 78-81.


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