Which of the following best describes the role of the Organization of Petroleum Exporting Countries as a marketing organization?

Question

Quizplus · Accepted Answer

OPEC's primary role as a marketing organization is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic, and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry. This often involves using a pricing strategy of controlling world prices through collective action, such as adjusting oil output among member countries.

Which of the Following Best Describes the Role of the Organization