CURRENT AFFAIRS

2019

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Name the Arab country which has withdrawn its membership from OPEC, recently.
A
United Arab Emirates
B
Bahrain
C
Qatar
D
Oman
Explanation: 

Detailed explanation-1: -Qatar, during a prolonged blockade implemented by other OPEC countries, terminated its membership in January 2019 to focus on natural gas production.

Detailed explanation-2: -Qatar left OPEC on 1 January 2019, after joining the organization in 1961, to focus on natural gas production, of which it is the world’s largest exporter in the form of liquified natural gas (LNG).

Detailed explanation-3: -The UAE has been a key member of the Organization of the Petroleum Exporting Countries for 55 of the 62 years that the club has existed. But current OPEC policy is far from helpful for MbZ. The state is only allowed to pump 3 million barrels a day, considerably below its 4-million-barrel capacity.

Detailed explanation-4: -Detailed Solution. The correct answer is Brazil. OPEC was founded on 14th September 1960.

Detailed explanation-5: -Iran is a member of the Organization of the Petroleum Exporting Countries (OPEC) although its oil exports are subjected to U.S. sanctions aimed at curbing Tehran’s nuclear programme.

There is 1 question to complete.