Analysis and study of the tendency of the indicator prices of the ecuadorian raw oil West Texas Intermediate (WTI)
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Abstract
The main objective of this document is the historical analysis of the oil price and to propose a technical model for its projection. The historical series used goes from January 1, 1980 until February 2, 2016 and in the case of the prediction interval, they go from February 3rd, 2016 to December 1st, 2029. The size of the market oil prices may range from $ 20- $ 150 compared to historical price data, such event has occurred previously and future prices are expected to fluctuate within this range (size of the oil market). Oil prices depend on three important factors: global demand, the development of new energy and global reserves. The three factors directly interact with the West Texas Intermediate (WTI) oil price in the market. The prediction proposes an overview of the oil market from a technical, analytical and specific point of view towards the future; Conclusions and recommendations are proposed in reference to the development of the oil market in the world and in Ecuador.
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