Which statement about OPEC is true?

Which statement about OPEC is true?

• A. They regulate currency exchange
• B. They determine oil production and sale among member countries
• C. They oversee global telecommunications
• D. They coordinate space exploration

Answer: (B)

The key idea is understanding what OPEC actually does: it coordinates the petroleum policies of its member countries, especially by setting production levels. By agreeing on how much oil each member should produce, OPEC can influence the total supply of oil on the world market, which in turn helps shape global oil prices. That makes the statement about determining oil production and sale among member countries the correct description of OPEC’s role. Currency exchange is managed by central banks and financial institutions, not by OPEC. Telecommunications is overseen by regulators and organizations focused on communications infrastructure, not oil producers. Space exploration is handled by space agencies and international science collaborations, not energy-policy groups. So those options don’t fit OPEC’s function as well.

The key idea is understanding what OPEC actually does: it coordinates the petroleum policies of its member countries, especially by setting production levels. By agreeing on how much oil each member should produce, OPEC can influence the total supply of oil on the world market, which in turn helps shape global oil prices. That makes the statement about determining oil production and sale among member countries the correct description of OPEC’s role.

Currency exchange is managed by central banks and financial institutions, not by OPEC. Telecommunications is overseen by regulators and organizations focused on communications infrastructure, not oil producers. Space exploration is handled by space agencies and international science collaborations, not energy-policy groups. So those options don’t fit OPEC’s function as well.