Which statement does NOT describe OPEC?
A)OPEC is the Organization of Petroleum Exporting Countries.
B)OPEC is an international cartel made up of 12 oil-producing countries and two unofficial members.
C)OPEC is the cartel that was responsible for the large increases in crude oil prices in the 1970s.
D)OPEC is the name of the free-trade zone encompassing the Middle East and other oil-producing nations.

Question

Quizplus · Accepted Answer

Option D is incorrect because OPEC is not a free-trade zone or a name of a free-trade zone. It is an organization of oil-producing countries that aims to coordinate and unify their petroleum policies in order to secure fair and stable prices for oil producers and a regular supply for consumers.

Which Statement Does NOT Describe OPEC