Colour code assessment approach by OLADE
Data in the JODI-Oil World Database from following countries/economies are reported through OLADE who is responsible for assigning colour codes;
Argentina, Barbados, Belice, Bolivia, Brazil, Colombia, Costa Rica, Cuba, Dominican Republic, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua, Panama, Paraguay, Suriname, Trinidad & Tobago, and Uruguay.
Applies for periods of 12 months.
- Standard deviation is obtained from the data in this period.
- The average is obtained from the data in this period.
- It defines a range of comparable information, defined by:
Minimum value = Average - Standard deviation
Maximum value = Average + Standard deviation
Applies the following consideration:
Green (Results of the assessment show reasonable level ) = Within range
Yellow(Use data with caution and please consult country notes) = Out of range