Forecasting Prices of Petrochemicals to Optimize the Production Structure of a Company

Student: Iodkovskaia Arina

Educational Programme: Applied Economics (Master)

Year of Graduation: 2019

Petrochemistry is an essential part of our lives. The commodity structure of a petrochemical company is a flexible system, capable of adapting to the current economic situation, if properly planned. Due to the redistribution of raw material flows to more profitable production and product lines, the company can neutralize the negative effect of the unfavorable situation on the market. Forecasting prices for petrochemical products has a great influence on all aspects of production and sales. Nowadays, quality expert price forecasting is being applied in practice. The analysis of the models showed that it is possible to replace the expert analysis with a mathematical model for liquefied petroleum gases. But there is no such model for products of long-distance processing of petrochemical production that could replace the expertise used in price forecasting for the petrochemicals.

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