Which organization is focused on petroleum production and exporting?

Which organization is focused on petroleum production and exporting?

• A. EU: European Union
• B. NAFTA: North American Free Trade Agreement
• C. OPEC: Organization of Petroleum Exporting Countries
• D. ASEAN: Association of Southeast Asian Nations

Answer: (C)

OPEC is the organization focused on coordinating petroleum production and exports. It brings together member countries to set policies and quotas for oil production, aiming to influence global oil supply and prices and to promote steady revenue for producers. The other groups are regional or economic blocs (the European Union, NAFTA/USMCA, and ASEAN) whose primary roles revolve around trade and regional cooperation rather than managing oil production and export policies. This makes OPEC the organization dedicated to petroleum production and exporting.

OPEC is the organization focused on coordinating petroleum production and exports. It brings together member countries to set policies and quotas for oil production, aiming to influence global oil supply and prices and to promote steady revenue for producers. The other groups are regional or economic blocs (the European Union, NAFTA/USMCA, and ASEAN) whose primary roles revolve around trade and regional cooperation rather than managing oil production and export policies. This makes OPEC the organization dedicated to petroleum production and exporting.