What does the acronym 'OPEC' stand for in global energy affairs?
A
Organization of Petroleum Exporting Countries
B
Organization for Pacific Economic Cooperation
C
Overseas Petroleum and Energy Council
D
Oil Producers Economic Community
Correct Answer: Option A — Organization of Petroleum Exporting Countries
Explanation:
OPEC, the Organization of Petroleum Exporting Countries, is an intergovernmental cartel that coordinates oil production policies among its m...
OPEC, the Organization of Petroleum Exporting Countries, is an intergovernmental cartel that coordinates oil production policies among its member nations to influence global oil prices.