What organization exerts more control over the international price of oil than any other?

Question

Quizplus · Accepted Answer

OPEC is a cartel of oil-producing countries that collectively decide on production levels to influence the international price of oil. Their decisions have a significant impact on the market and they have been known to cut production to raise prices or increase production to lower prices. Exxon and BP are individual oil companies that do not have the same level of control over the global oil market. WTO, on the other hand, is a trade organization and does not have any direct control over the price of oil.

What Organization Exerts More Control Over the International Price of Oil