A GM-Based Profitable Duration Prediction Model for Chinese Crude Oil Main Production District

摘要

In this paper, a grey model (GM) based profitable duration forecasting approach is proposed for Chinese crude oil main production district. In this methodology, the forecasting functions on electricity expenditure and crude oil sales revenue are first built via GM. Based on these two forecasting functions, the profitable duration of crude oil production under the restriction of the coefficient of limit electricity cost is then worked out. Finally, some ways to prolong the profitable duration are put forward in order to offer some valuable suggestions for the transformation of resource-based cities.