The other data for estimates of revenue were obtained from https://contenido.bce.fin.ec/documentos/Estadisticas/Hidrocarburos/ASP201712.pdf an official government source.
The data obtained an average of production daily as data is not available or it was not found for this data analysis.
The average of daily production was set at 543'095.9 oil barrels multiplied by the price of WTI oil.
2015 analysis.
The labels are as follows:
date price open high low vol change
date price open high low vol change
date price open high low vol change
date price open high low vol change
This method results in a very accurate estimation of actual revenues which are seen in the first chart.
This data is very important as oil is one of the main revenue and makes a big part of the economy. For prediction of data please visit Predicting data and other topics in this blog.
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