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Updated: Sep 8, 2025

Measurement of the Rheology of Crude Oil in Equilibrium with CO2 at Reservoir Conditions
Published on: June 6, 2017
Nonparametric panel stationarity testing with an application to crude oil production
María José Presno1, Manuel Landajo1, Paula Fernandez-Gonzalez1
1Applied Economics, University of Oviedo, Oviedo, Spain.
Abstract:
A nonparametric panel stationarity test is proposed which offers the advantage of not requiring prior specification of the trend function for each of the series in the panel. A bootstrap implementation of the test is outlined and its finite sample performance is analyzed via Monte Carlo simulations. An application is also included where the proposed test is used to analyze the stochastic properties of monthly crude oil production for a panel of 20 -both OPEC and non-OPEC- countries from 1973 to 2015. Our analysis detects strong evidence of non-stationarity, both globally and group-wise. Results have implications for the effectiveness of government intervention and stabilization policies.
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