SSC
PHYSICAL GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Organization of Petroleum Exporting Countries (OPEC) is an example of a ____
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company
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government
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country
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cartel
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Explanation:
Detailed explanation-1: -The focus of OPEC is to control oil output in order to influence prices. As natural gas may be produced with with oil, some view OPEC as also being an indirect natural gas cartel. Additionally, a group of countries have formed what is called the Gas Exporting Countries Forum (GECF), which some refer to as a gas-OPEC.
Detailed explanation-2: -The Organization of the Petroleum Exporting Countries (OPEC, /ˈoʊpɛk/ OH-pek) is an organization enabling the co-operation of leading oil-producing countries, in order to collectively influence the global market and maximise profit.
There is 1 question to complete.