GK
INTERNATIONAL ORGANISATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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OPEC’s main goal is to:
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keep oil prices high
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keep oil prices stable
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control oil drilling sites
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keep oil exporting prices low
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Explanation:
Detailed explanation-1: -OPEC’s objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry.
Detailed explanation-2: -In order to keep prices of the oil stable, OPEC countries usually maintain a quota of oil supply. OPEC countries together decide the amount of oil to be produced by them. while keeping in mind the demand for oil in the market, OPEC decides the amount of crude to be produced by member countries.
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