HISTORY
HISTORY OF THE MIDDLE EAST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which organization influences the price and the amount of oil that is produced.
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OPEC the Organization of Petroleum Exporting Continents
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OPEC the Organization of People Exporting Cats
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OPEC the Organization of People Exporting Coal
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OPEC the Organization of Petroleum Exporting Countries
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Explanation:
Detailed explanation-1: -The Organization of the Petroleum Exporting Countries is a cartel consisting of 13 of the world’s major oil-exporting nations. OPEC aims to regulate the supply of oil in order to set the price on the world market.
Detailed explanation-2: -OPEC can influence world oil supplies and prices The Organization of the Petroleum Exporting Countries (OPEC) can have a significant influence on oil prices by setting production targets for its members.
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