Which entity is expected to control the global supplies and prices of oil over the long term?
A) OPEC
B) the United States
C) Russia
D) Mexico

Question

Which entity is expected to control the global supplies and prices of oil over the long term? 
A) OPEC 
B) the United States 
C) Russia 
D) Mexico

Quizplus · Accepted Answer

OPEC (Organization of the Petroleum Exporting Countries) is an intergovernmental organization of 14 nations that collectively control around 44% of global oil production and 73% of "proven" oil reserves. As such, they have a significant influence on global oil supplies and prices over the long term. The other options, the United States, Russia, and Mexico, are significant oil producers, but they do not have the same level of control over global supplies and prices as OPEC.

Which Entity Is Expected to Control the Global Supplies and Prices