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OPEC was formed in 1960 in order to A. coordinate the interests of producing countries by regulating oil prices. B. enhance oil and natural gas production technologies among member states. C. create a cartel that would control global oil supplies. D. negotiate the interests of OPEC member countries within the United Nations.

Timothy Norman

in Geography

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1 answer

William Cain on January 1, 2018

The correct answer is a - A. to coordinate the interests of producing countries by regulating oil prices.The OPEC is an organization that was formed with the purpose of coordinating the interests of the countries that produce oil and the price of oil. It has a great importance, given that all the member countries are coordinating between themselves and come out in the market with the same price, and the purpose of this is to not allow any producer to take an advantage over the other, so that the price of oil is small and, therefore, destroy their economies, but all to comply with the agreement among themselves, so it is in the best interest of all and instead of being competition for each other to go to the market, as they come together.

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