The price forecast of international petroleum with system simulation based on MATLAB/SIMULINK

In view of the singleness of traditional methods about international petroleum (Brant) price forecast, ten main factors that affect international petroleum price are fully analysed. Based on time series method and multivariate linear regression method, the simulation model with the theory and idea of system simulation is firstly established. And this forecasting system realizes visual operation under the environment of MATLAB/SIMULINK. So this article tries a new way for further exploring petroleum price’s running law and guiding its forecasting practice. Keywords: Petroleum price forecast, system simulation, residual error, physical flows information flows