2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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600, 000
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800, 000
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500, 000
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1000, 000
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Detailed explanation-1: -Its decision from November called for a 2 million bpd cut to the OPEC+ output target, of which about 1.27 million bpd was meant to come from the 10 participating OPEC countries.
Detailed explanation-2: -OPEC’s role in the world’s oil industry Given the high dependence of the world economy on oil and gas, OPEC’s influence on the world market is evident. In 2020, oil production in OPEC countries per day stood at some 30.6 million barrels.
Detailed explanation-3: -The Organization of the Petroleum Exporting Countries (OPEC) pumped 28.87 million barrels per day (bpd), the survey found, down 50,000 bpd from December. In September, OPEC output hit its highest since 2020.
Detailed explanation-4: -Global oil production amounted to 89.9 million barrels per day in 2021.