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Select the correct answer.

Why do the countries belonging to OPEC avoid producing too much oil at one time?

A. They are concerned about the harm caused by the use of too many fossil fuels.

B. They are fearful that they will not be able to transport excess oil to foreign markets.

C. They are fearful that too much oil production will result in non-OPEC nations attempting to steal abundant oil supplies.

D. They are concerned that too much oil production will cause the price of oil to go down, resulting in lower profits.



Answer :

GinnyAnswer

Final answer:

OPEC countries avoid producing excess oil to prevent price decreases and maintain stable profits, influencing global oil prices.


Explanation:

The countries belonging to OPEC avoid producing too much oil at one time primarily because they are concerned that too much oil production will cause the price of oil to go down, resulting in lower profits.

This strategy helps OPEC maintain control over oil prices globally and ensures stable income for the member countries. By limiting production, OPEC can influence oil prices and prevent a surplus of oil in the market.

Historical events, such as the oil crisis in the 1970s, have shown the impact of production decisions on oil prices and the global economy.


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