Question on: WAEC Economics - 2017
one objective of organisation of patroleum exporting countries (OPEC) is to?
A
harmonize and stabilize oil prizes
B
ensure excess supply of oil to consuming countries
C
subsidize oil prices in member countries
D
assist member countries to exploit oil resources
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Correct Option: A
OPEC's objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fairreturn on capital to those investing in the industry.
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