Question 50
Natural Resources and PetroleumA major achievement of the Organization of Petroleum Exporting Countries (OPEC) is that
- A.crude oil price has increased tremendously
- B.petroleum products prices have remained low
- C.producing countries are highly industrialized
- D.price of crude oil has remained relatively stable
Show the answer and explanation
Answer: D (price of crude oil has remained relatively stable)
Explanation
By controlling members' output quotas, OPEC has helped to keep crude oil prices relatively stable.