Establishment of a multi-cycle generalized Weng model and its application in forecasts of global oil supply
投稿时间:2016-07-14  
英文关键词:Oil production, Multi-cycle, Generalized Weng model, Energy strategy
基金项目:The authors appreciate the financial support from the National Natural Science Foundation of China (Grant Nos. 71303258, 71373285, and 71503264), National Social Science Funds of China (13&ZD159), MOE (Ministry of Education in China) Project of Humanities and Social Sciences (13YJC630148, 15YJC630121), and Science Foundation of China University of Petroleum, Beijing (ZX20150130).
作者单位
Yi Jin School of Business Administration, China University of Petroleum, Beijing 102249, China 
Xu Tang School of Business Administration, China University of Petroleum, Beijing 102249, China 
Cui-Yang Feng School of Business Administration, China University of Petroleum, Beijing 102249, China 
Jian-Liang Wang School of Business Administration, China University of Petroleum, Beijing 102249, China 
Bao-Sheng Zhang School of Business Administration, China University of Petroleum, Beijing 102249, China 
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英文摘要:
      Low oil prices under the influence of economic structure transformation and slow economic growth have hit the existing markets of traditional big oil suppliers and upgraded the conflict of oil production capacity and interest between OPEC producers and other big oil supplier countries such as the USA and Russia. Forecasting global oil production is significant for all countries for energy strategy planning, although many past forecasts have later been proved to be very seriously incorrect. In this paper, the original generalized Weng model is expanded to a multi-cycle generalized Weng model to better reflect the multi-cycle phenomena caused by political, economic and technological factors. This is used to forecast global oil production based on parameter selection from a large sample, depletion rate of remaining resources, constraints on oil reserves and cycle number determination. This research suggests that the world will reach its peak oil production in 2022, at about 4340×106 tonnes. China needs to plan for oil import diversity, a domestic oil production structure based on the supply pattern of large oil suppliers worldwide and the oil demand for China’s own development.
Yi Jin,Xu Tang,Cui-Yang Feng,Jian-Liang Wang,Bao-Sheng Zhang,2017.Establishment of a multi-cycle generalized Weng model and its application in forecasts of global oil supply.Petroleum Science,(3):616~621.
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