DOI: https://doi.org/10.36719/2789-6919/47/79-84
Rovshan Humbataliyev
Azerbaijan State Marine Academy
https://orcid.org/0000-0002-9114-8953
rovshangumbataliev@rambler.ru
Sariya Allahverdiyeva
Mingachevir State University
https://orcid.org/0009-0007-2475-4148
seriye_allahverdiyeva@mail.ru
Farida Bayramova
Baku State University
https://orcid.org/0009-0001-8413-692x
feridamb1970@gmail.com
Mathematical Modeling of Oil Production Growth
Abstract
Oil production represents a critical component of the global energy matrix, directly influencing economic stability, geopolitical dynamics and long-term sustainability strategies. Accurate modeling of the temporal evolution of oil production-particularly its growth and decline phases-is essential for informed decision-making in energy policy formulation, macroeconomic forecasting and strategic resource management. This study explores the applicability of mathematical modeling, with a specific focus on differential equations, in capturing the underlying dynamics of oil production trends. Both exponential and logistic growth models are examined as analytical frameworks and their effectiveness in approximating empirical production data is evaluated. Through a comparative analysis of these models, the research aims to demonstrate their relevance, limitations and practical value in interpreting real-world data within the context of energy systems analysis.
Keywords: Oil production, model, energy policy, approximation, logistic growth, process