GK
WORLD ORGANISATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the purpose of OPEC?
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set the price of petroleum
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encourage the use of oil throughout the Middle East
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Develop new ways to extract oil from the Earth
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increase the sale of petroleum in 1st world nations
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Explanation:
Detailed explanation-1: -The group said the decision was based on the “uncertainty that surrounds the global economy and oil market outlooks”. Saudi Arabia’s energy minister Abdulaziz bin Salman stressed the group’s stated role as a guardian of stable energy markets.
Detailed explanation-2: -What are OPEC’s objectives? OPEC’s objectives are to unify the oil policies of member countries, in order to guarantee fair, stable prices for these petroleum-producing countries, efficient, economic, regular supply for consumers, and a fair return for those investing in the oil industry.
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