DEVELOPMENT IN MIDDLE EAST
DEMOCRATIC REFORMS IN MIDDLE EAST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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cacao beans
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coffee
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oil
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coal
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Detailed explanation-1: -Nigeria sustained its position as the largest oil producer in Africa for two straight month, as it pumped 1.235 million barrels per day (bpd) in December, according to the Organization of the Petroleum Exporting Countries (OPEC) data.
Detailed explanation-2: -It was on July 12, 1971, that Nigeria became the 11th Member of OPEC, with the OPEC Conference unanimously agreeing to accept the country’s application for Membership.
Detailed explanation-3: -Heavily dependent on the proceeds from the sales of her Bonny Light crude oil, it is in the best interest of the Nigerian State for oil prices to be high in the volatile international oil market. Hence, it became a full Member State of the cartel – Organisation of the Petroleum Exporting Countries (OPEC) in 1971.
Detailed explanation-4: -Saudi Arabia is by far the leading producer of crude oil among the selected OPEC countries, with an average daily production of roughly 9.1 million barrels in 2021. Iraq ranked second, at nearly four million barrels daily.