The monitoring system has become a crucial concept for decision-making and management because of the development of data output in the industrial business. It is possible to use sensor-based technologies, such as the Internet of Things (IoT), to monitor the manufacturing process effectively. IoT and Machine Learning (ML) are offered in this study as a solution for monitoring the production system. Specifically, there is a paucity of cloud-based manufacturing equipment that can provide on-demand manufacturing services through the Internet in this study. The technical problems and enabling technologies of cloud-based manufacturing equipment are discussed in detail in this paper. Data from preprocessed time series data is transmitted to cloud services for trend prediction and data completion using a large short-term memory recurrent neural network, a first-order forward difference, and the original sequence of historical data, and the results are returned. In time-series data processing, machine learning may considerably enhance the efficiency and accuracy, as evidenced by the results of the IIoT oil production IIoT system.