GENERAL KNOWLEDGE

GK

INDIAN ECONOMY

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What is OPEC?
A
The latest space shuttle of USA
B
The latest space drive of Russia
C
Organisation of oil producing companies of India
D
Organisation of oil exporting countries
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. They were to become the Founder Members of the Organization.

Detailed explanation-2: -Current OPEC members are Algeria, Angola, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, the Republic of the Congo, Saudi Arabia, the United Arab Emirates and Venezuela.

Detailed explanation-3: -As of 2019, OPEC has a total of 14 Member Countries viz. Iran, Iraq, Kuwait, United Arab Emirates(UAE), Saudi Arabia, Algeria, Libya, Nigeria, Gabon, Equatorial Guinea, Republic of Congo, Angola, Ecuador and Venezuela are members of OPEC.

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