One of the principal objectives of the OPEC is to

Government

JAMB 2015

A. determine oil prices in the international market
B. harmonise the oil policies of member countries
C. discipline erring oil-producing countries
D. assist non-oil producing developing states

WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

Correct Answer: Option B

Explanation

One of the principal objectives of the Organisation of the Petroleum Exporting Countries (OPEC) is to harmonise and coordinate the oil production policies of its member countries. This coordination helps to stabilise oil markets and ensure fair and stable prices for petroleum producers while securing a reliable supply for consumers. While OPEC does have some influence over oil prices in the international market (option A), its primary focus is on aligning the policies of its member states to achieve mutual benefits rather than directly setting prices

There is an explanation video available below.

Previous Next

Go back to Govt classroom

Report an Error Ask A Question Download App