The Fundamentals of Financial Forecasting Condition of Oil Production Enterprise

Abstract

The forecasting financial condition of the enterprise aims to assess financial prospects for the future period, based on the results obtained, plan future actions and recommendations for improving financial performance. As such, there are no separate approaches to forecasting exactly the financial condition of an oil producing company, there are only separate methods, there are 4 groups of them (expert estimation methods, deterministic, stochastic, trend extrapolation methods). A method for predicting the financial condition of an oil producing enterprise is proposed. Of the existing methods, a regression analysis method was chosen because it considers the forecast and changes in the environment and industry in the long term.