GK
WORLD ORGANISATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which organization is made up of 11 developing countries that depend on oil as a main source of income and provide over 40% of the world’s oil supply?
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EU
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NATO
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OPEC
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SHINTO
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Explanation:
Detailed explanation-1: -OPEC Organization of Petroleum Exporting Countries (est. 1960) the eleven-nation organization that supplies a major share of global oil production that collectively agrees on global oil production and/or price targets.
Detailed explanation-2: -As of September 2018, the 13 member countries accounted for an estimated 44 percent of global oil production and 81.5 percent of the world’s proven oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so-called “Seven Sisters” grouping of multinational oil companies.
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