Empirical Study on the Relationship between China's Logistics Industry and the Oil Consumption Based on ECM

On the previous studies on China's oil consumption, in order to continue to explore the inherent law of China's oil consumption, we use error correction model to further research the relationship between the output value of China's logistics industry and the oil consumption in this paper. The research results show that there is significant one-way causality between the output value of logistics industry and the oil consumption, which suggests that the growth of logistics industry exerts obvious promoting effect on the oil consumption, whereas, the growth of the oil consumption is of less impact on logistics industry. In the perspective of short-term fluctuation, China's oil consumption can be affected by the output value's increase of logistics industry; in the long-term equilibrium perspective, the difference of actual volume of the oil consumption and the expected one has reverse adjusting effect on the oil consumption in the future.