Question 26
International Economic OrganisationsThe Organization of Petroleum Exporting Countries (OPEC) prevents excess global supply of crude oil by
- A.fixing production quotas for all member countries.
- B.buying up the extra volume produced by members in the oil market.
- C.taking legal actions against members at the world court.
- D.expelling erring member countries from the organization.
Show the answer and explanation
Answer: A (fixing production quotas for all member countries.)
Explanation
OPEC limits output through members' quotas.