Author
Listed:
- Gaogao Dong
- Ting Qing
- Lixin Tian
- Ruijin Du
- Jingjing Li
- Dimitri Volchenkov
Abstract
With the contradiction between supply and demand being intensified, the unreasonable crude oil trade structure has become increasingly prominent. Therefore, optimizing the supply and demand structure of the global crude oil trade is an urgent problem, which has become one of the crucial factors affecting the energy strategy and economic development of each country. This paper builds an optimization model that aims at minimizing crude oil trade costs based on the complex network theory. Meanwhile, an optimal solution generation approach is proposed and developed in this paper. Compared with the preoptimized trade network, the proposed model can effectively reduce the trade cost. By topological analysis of the trade network and its optimal configuration, we obtain that both the preoptimized and optimized crude oil trade networks follow power-law distribution. By using the minimum spanning tree, we find that the major crude oil net exporting countries have the most significant influence and are at the core in the optimized trade structure. This work focuses on the sustainable development of the global crude oil trade and provides a fresh perspective for the optimal crude oil trade system. Moreover, the methodology and model may be applied in the investigation of optimization for other energy system structures.
Suggested Citation
Gaogao Dong & Ting Qing & Lixin Tian & Ruijin Du & Jingjing Li & Dimitri Volchenkov, 2021.
"Optimization of Crude Oil Trade Structure: A Complex Network Analysis,"
Complexity, Hindawi, vol. 2021, pages 1-11, January.
Handle:
RePEc:hin:complx:3480546
DOI: 10.1155/2021/3480546
Download full text from publisher
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hin:complx:3480546. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
We have no bibliographic references for this item. You can help adding them by using this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mohamed Abdelhakeem (email available below). General contact details of provider: https://www.hindawi.com .
Please note that corrections may take a couple of weeks to filter through
the various RePEc services.