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Which of the following statements describes the purpose of OPEC?

A. To explore alternative energy sources
B. To manage global oil prices
C. To reduce Western dependency on oil
D. To eliminate trade in oil



Answer :

GinnyAnswer

Final answer:

OPEC's purpose is to manage global oil prices and ensure stable income for oil-exporting nations.


Explanation:

OPEC was formed to manage global oil prices by coordinating oil production and collectively bargaining for oil prices among its member countries. It aimed to ensure a stable income for oil-exporting nations and exert influence on the global oil market. Through actions like production quotas and pricing strategies, OPEC members sought to maximize profits related to oil exports.


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