CURRENT AFFAIRS

2023

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Rebuffing U.S. pleas to lower production to cool the market is what alliance?
A
ASEAN
B
NATO
C
OPEC+
D
None of the above
Explanation: 

Detailed explanation-1: -The Organization of the Petroleum Exporting Countries (OPEC) was founded in Baghdad, Iraq, with the signing of an agreement in September 1960 by five countries namely Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.

Detailed explanation-2: -CAPE TOWN, Oct 18 (Reuters)-The OPEC+ oil producers group moved unanimously to cut output to prevent a crisis and stem a tide of volatility, OPEC’s secretary-general told an energy conference in South Africa on Tuesday.

Detailed explanation-3: -These are the United States, Russia, Saudi Arabia, Canada and Iraq. Saudi Arabia and Iraq are members of a group called OPEC, while Russia is a member of a larger group called OPEC+.

Detailed explanation-4: -During the 1973 Arab-Israeli War, Arab members of the Organization of Petroleum Exporting Countries (OPEC) imposed an embargo against the United States in retaliation for the U.S. decision to re-supply the Israeli military and to gain leverage in the post-war peace negotiations.

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