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WAEC Economics 2009 Question 49

Question 49

International Economic Organisations

The five countries that established the Organization of Petroleum Exporting Countries (OPEC) are

  1. A.Nigeria, Iraq, Venezuela, Kuwait and Ghana
  2. B.Saudi Arabia, Kuwait, Sierra Leone, Iran and Iraq
  3. C.Algeria, Kuwait, Venezuela, Iran and The Gambia
  4. D.Kuwait, Venezuela, Iran, Iraq and Saudi Arabia.
Show the answer and explanation

Answer: D (Kuwait, Venezuela, Iran, Iraq and Saudi Arabia.)

Explanation

OPEC was founded in Baghdad in 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.